Breaking: US CPI Inflation Eases To 3.1%, Core Inflation Beats Market Estimates

The U.S. Bureau of Labor Statistics announced the consumer price index (CPI) inflation data for January showing that inflation came in at 3.1%. The number was lower than the December inflation print of 3.4% but was still higher than overall market estimates of 2.9%.

US core CPI eases, beats market estimates

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in January on a seasonally adjusted basis, after rising 0.2 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 3.1% before seasonal adjustment.

Economists polled by Reuters expected consumer inflation to rise 2.9% annually in January after 3.4% growth in December. The cooling CPI inflation will give the U.S. Federal Reserve room to consider lower interest rates in the months ahead.

Bitcoin slips post inflation data

Bitcoin prices took a fall after the US CPI data release. At the time of writing, the OG-crypto currency inched lower to $49,480.99, after previously standing at $49,536 a piece.

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2024-02-13 16:49