Bitcoin

The Consumer Price Index (CPI), a handy tool to gauge the average change over time in prices paid by urban consumers for a market basket of consumer goods and services, experienced a subtle uptick in September. 
It went up by 0.4%, a tad higher than the economist predictions which stood at 0.3%, and slightly lower compared to the preceding month’s 0.6%. In a broader frame, comparing year-over-year data, September’s CPI uplifted by 3.7%, in line with August’s same rate, albeit slightly surpassing the anticipated 3.6%. 
Peeling back the layers of the core CPI, which omits the often volatile food and energy costs, it marked a 0.3% increment in September. 
This shift met the economist’s expectations and mirrored the prior month’s rate. Observing it from a yearly perspective, the core CPI encountered a 4.1% increase, aligning with projections and showcasing a dip from August’s 4.3%. 
In a concurrent economic scenario, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> (BTC) experienced a 1.2% decline, lowering its value to $26,770, following these CPI revelations. 
<img decoding="async" class="size-full wp-image-24543 alignnone" src="https://crypto.ro/en/wp-content/uploads/2023/10/BTC_1D_graph_coinmarketcap-6.png" alt="BTC 1D graph coinmarketcap 6" width="919" height="284" srcset="https://crypto.ro/en/wp-content/uploads/2023/10/BTC_1D_graph_coinmarketcap-6.png 919w, https://crypto.ro/en/wp-content/uploads/2023/10/BTC_1D_graph_coinmarketcap-6-300x93.png 300w, https://crypto.ro/en/wp-content/uploads/2023/10/BTC_1D_graph_coinmarketcap-6-768x237.png 768w, https://crypto.ro/en/wp-content/uploads/2023/10/BTC_1D_graph_coinmarketcap-6-750x232.png 750w" sizes="(max-width: 919px) 100vw, 919px" title="CPI rises 3.7% in september, exceeding expectations 17"> 
Dovetailing this data, insights from the latest U.S. Federal Reserve’s Federal Open Market Committee (FOMC) meeting hint at a consensus among policymakers. 
They appear inclined towards one more rate hike before putting a halt to the monetary tightening cycle. As for rate traders, they presently foresee roughly a 10% probability of this rate hike transpiring at the Fed’s November meeting, with the likelihood swelling to 30% by the close of the year, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="nofollow noopener" target="_blank">as per</a> insights from the CME’s FedWatch. 
In such times, understanding these economic nuances becomes paramount in making informed financial and investment decisions, ensuring stability and sustainability amidst fluctuating economic tides.

CPI rises 3.7% in september, exceeding expectations

crypto.ro global

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