The US Bureau of Labor Statistics recently released October’s Consumer Price Index (CPI) data, which shows that the annual inflation rate increased to 2.6%, in line with predictions. The month-over-month inflation rate remained at 0.2%, consistent with earlier data. The Core Inflation Rate, which excludes food and energy prices, was at 3.3% year over year and increased by 0.3% month over month.
These figures suggest that underlying inflation pressures are stable. Following the release of the CPI data, the price of Bitcoin rose by 1.2% and was trading at $88,400 at the time of reporting.
