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April

<p>The post <a href="https://coinpedia.org/news/april-cpi-release-hit-hard-with-3-4-btc-price-surge-to-64k/">April US CPI Drop To 3.4%; BTC Price Surge To $64K</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Consumer Price Index, the key inflation indicator issued by the U.S. government, rose to 3.4% over the last 12 months in April, signaling sustained price growth in the economy. This figure surpassed market expectations, which had anticipated a decrease to 2.9%.</p> 
<p>In parallel, the price of Bitcoin experienced a sudden surge to $64k, marking a 3.57% increase within the past 24 hours.</p> 
<h2 class="wp-block-heading" id="h-us-cpi-drop-to3-4">US CPI Drop To3.4%</h2> 
<p>U.S. consumer prices rose less than expected in April, indicating a potential slowdown in inflation at the beginning of the 2nd quarter. This news has raised hopes in financial markets for a possible interest rate cut in September.&nbsp;</p> 
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   <p lang="en" dir="ltr">Breaking<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> US CPI comes in at 3.4% vs. 3.5% last month. <br><br>Core CPI came in at 3.6% vs. 3.8% last month. <br><br>Both are in line with expectations and clearly BULLISH for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/PUuavy293o">pic.twitter.com/PUuavy293o</a></p>— Joshua Jake (@itzjoshuajake) <a href="https://twitter.com/itzjoshuajake/status/1790722838653014451?ref_src=twsrc%5Etfw">May 15, 2024</a>
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<p>The Consumer Price Index (CPI) <a href="https://www.forexfactory.com/news/1283842-consumer-price-index-april-2024">increased by 3.4%</a> over the 12 months ending in April, a slight dip from the 3.5% rise seen in March. Despite this, progress in curbing inflation has stalled, with the annual increase still significantly above pre-pandemic levels (9.1% in June 2022).</p> 
<p>The Labor Department’s Bureau of Labor Statistics (BLS) reported a 0.3% rise in the consumer price index last month, following increases of 0.4% in both March and February. This latest data suggests a slowdown in price growth, aligning with expectations for a gradual easing of inflationary pressures in the coming months.</p> 
<h2 class="wp-block-heading" id="core-cpi-surge-to-3-6">Core CPI Surge To 3.6%</h2> 
<p>At the same time, the Core CPI, which excludes food and energy prices, rose by 0.3% monthly, aligning with Wall Street estimates. Year-over-year (YoY), the Core CPI increased by 3.6%, slightly lower than the 3.8% surge observed in the previous month.</p> 
<h2 class="wp-block-heading" id="bullish-news-for-bitcoin">Bullish News For Bitcoin</h2> 
<p>Following the release of the CPI report, the price of Bitcoin experienced a sudden surge, jumping from $61,800 to <a href="https://markets.coinpedia.org/bitcoin">nearly $64,000,</a> representing a 3.8% increase. Concurrently, Bitcoin’s trading volume also surged by 10.9%, reaching $28.8 billion, while its market capitalization climbed to $1.25 trillion.</p>

April US CPI Drop To 3.4%; BTC Price Surge To $64K

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