US CPI Inflation Rises to 3%, Raising Crypto Market Concerns
- US CPI inflation increased to 3% year-over-year in January, up from 2.9% in December.
- Monthly inflation rose to 0.5% in January, compared to a 0.4% increase the previous month.
- Core CPI, excluding food and energy, reached 0.4%, up from December’s 0.2%.
- The Core CPI on a year-over-year basis climbed to 3.3%, exceeding Wall Street’s expectation of 3.1%.
- The US Dollar Index increased by 0.42% to $108.290 following the release.
The US CPI inflation rate rose to a higher-than-expected 3% in January, prompting concerns about potential impacts on the crypto market due to increased investor caution and macroeconomic pressures.
Source (2.6)https://coingape.com/us-cpi-rises-to-3-sparking-crypto-market-crash-speculations/?rand=24432
