Bitcoin jumps past $50K as US CPI data shows highest inflation in nearly 40 y...
CPI data is in line with forecasts but still shows a huge spike, while the long-term consequences for Bitcoin are far from universally positive. Bitcoin (BTC) surged over $1,000 in seconds on Dec. 10 as the United States Consumer Price Index (CPI) data showed inflation in November was worse than anticipated. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNovember CPI conforms to expectationsData from Cointelegraph Markets Pro and TradingView showed BTC/USD running to $50,132 on Bitstamp as the data became public Friday.An hour before the Wall Street open, the pair had already....
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Inflation continues to remain hot in the United States as supply constraints and higher oil prices continue, seeing barrels of crude surge above $80 per unit. Meanwhile, data released on Friday indicates that consumer expenditures have risen to 4.4%, the highest run-up of inflation the country has seen in 30 years.
Inflation Continues to Rise in US
Americans are dealing with higher inflation levels these days as new data indicates that personal consumption expenditures have spiked in September to 4.4%. Reuters reports that the inflation run-up is “continuing a run of....
One of the hottest topics in the United States in 2022 is the rising inflation, as the U.S. Labor Department’s data published on Wednesday indicated that the consumer price index (CPI) rose to 7% in December. This represents the largest annual jump since 1982. Federal Reserve governor Lael Brainard is set to tell congressional leaders today that the central bank is focused on battling inflation. Moreover, members of the Democratic party are concerned that the rising inflation may cost the Biden administration politically.
CPI Rate Jumps to 7%, Wholesale Prices Spike 9.7%
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American inflation expectations have surged according to the results of the latest New York Federal Reserve Survey of Consumer Expectations. The presumed inflation rate tapped the highest point since 2013 and alongside the forecast of lower purchasing power, consumer debt and fears of a housing bubble in the U.S. are on the rise. New York Fed’s Consumer Expectations Report Expects Inflation to Be 4.8% Over the Next Year U.S. citizens are worried about inflation after the government locked down the nation for more than a year and the Federal Reserve increased the M1 supply by 30%.....
The U.S. economy is looking stagnant according to data stemming from the Bureau of Economic Analysis, as core personal consumption expenditures (PCE) jumped 3.4% in May from a year prior. The recent PCE spike is the highest year-over-year basis change since 1992 and the statistic is fueling inflation concerns. Amid ‘Never Ending’ Market Rallies, Core Inflation Indicator Jumps Highest in Close to Three Decades After more than a year of lockdowns and business shutdowns alongside the massive monetary expansion introduced by the Federal Reserve, economists are worried about rising....
U.S. CPI data came lighter than expected at 8.5% in July, but rampant inflation is still present in the energy sector; bitcoin jumps.