The Consumer Price Index (CPI) rose by 0.4% in December, slightly above the expected 0.3% and the previous month’s 0.3%. Year-over-year, CPI increased by 2.9%, matching analyst forecasts but higher than November’s 2.7%. However, the core CPI, excluding volatile food and energy prices, only rose by 0.2% in December, in line with expectations but lower than November’s 0.3%. The annual core CPI rate fell to 3.2%, below the forecasted 3.3% and November’s 3.3%. This unexpected decline in core inflation rates led to a significant market reaction. Bitcoin’s price surged by $1,500 to $98,500 within minutes of the report’s release, marking a 2% increase over the past 24 hours. U.S. stock index futures also rose by about 0.5%, while bond yields and the dollar saw sharp declines. The crypto market had been trading within a range, influenced by macroeconomic data and monetary policy expectations.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
