US CPI Rises to 2.9%, Bitcoin Surges Above $98.5K
- The US Consumer Price Index (CPI) increased to 2.9% in December, up from 2.7% in November.
- Bitcoin price rose above $98,500 following the CPI report.
- The Core CPI inflation rate was recorded at 0.2%, meeting expectations.
- The Producer Price Index (PPI) showed a lower-than-expected inflation rate of 3.3%.
- The US dollar index fell below 109, while the 10-year Treasury yield decreased to 4.67%.
The December US CPI rose to 2.9%, aligning with market expectations and contributing to Bitcoin’s rise above $98,500 as the Core CPI inflation met forecasts.
