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Reading: US Inflation Rate Rises To 2.7%
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EdaFace Newsfeed > Latest News > Crypto News > US Inflation Rate Rises To 2.7%
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US Inflation Rate Rises To 2.7%

vitalclick
Last updated: December 11, 2024 2:08 pm
6 months ago
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Contents
Cooling US CPI Inflation DataCore CPI InsightsBitcoin’s Reaction to CPI DataNever Miss a Beat in the Crypto World!FAQsFollow us for inspiring posts and stories

The U.S. Bureau of Labor Statistics has released the latest Consumer Price Index (CPI) data, shedding light on the inflation trend for November. The report indicates a slight increase in CPI to 2.7%, aligning with forecasts and marking a steady path toward financial stability.

Cooling US CPI Inflation Data

The November inflation rate increased by 0.1%, bringing it to 2.7%, as expected by the forecasted 2.7%. This represents the second consecutive month of rising inflation, from 2.4% in Sept and 2.6% Nov in. Such a consistent rise suggests growing inflation in the US.

Experts predict that if inflation continues to rise at this pace, it might pave the way for a rising interest rate cut in December. This potential policy shift could expert burden on various sectors.

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  •   Crypto News Today (Dec 11th, 2024): Bitcoin Price Holds at $98k | XRP Climbs 8.31%
  •   ,

Core CPI Insights

Core CPI, which excludes the volatile categories of food and energy, ticked slightly higher to 3.3%, aligning with the expected 3.3%. While this marginal increase raises questions, the broader CPI figures highlight progress in tackling inflation.

Bitcoin’s Reaction to CPI Data

Bitcoin’s price has risen by 2%, reaching $98,859, after briefly surpassing $98,106. Its market cap now stands at $1.95 trillion.

Meanwhile, some analysts suggest that Bitcoin could test the $100,000 support level before regaining its upward momentum.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQs

What is CPI Data?

CPI data measures the change in the price of goods and services purchased by consumers, indicating inflation trends and cost of living adjustments.

What is the CPI Data Release Today Live?

The CPI data release today live reflects a 2.7% inflation rate for November, aligning with forecasts and offering insights into U.S. economic stability.

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