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Market

November US CPI Data Reaches 3.1%, Bitcoin Stabilizes at $41,800

December 12, 2023 - Around 2 mins mins to read
Key Points:
  • The November US CPI data rises as expected, with a 0.1% monthly increase.
  • Core inflation aligns with predictions at 0.3%, with the Federal Reserve likely to maintain rates at 5.25%–5.5%, despite market speculation.
  • Investors tread cautiously as Bitcoin remains stable at $41,800 post-report, while the crypto market experiences fluctuations after recent highs.
In a highly anticipated release, the Bureau of Labor Statistics unveiled the November US CPI data, revealing a 3.1% surge in inflation, meeting market expectations. The all-items index showed a 0.1% monthly advance, aligning with projections and marking a slight decrease from October’s 3.2% increase.

November US CPI Data Reaches 3.1%, Bitcoin Stabilizes at $41,800

US November US CPI Data Holds Steady at 3.1%

The Core Consumer Price Index (CPI), excluding food and energy, experienced a 0.3% uptick, in line with predictions, with an annual core inflation rate of 4%, consistent with market forecasts. Monthly headline CPI saw a 0.1% rise, meeting expectations and surpassing October’s 0.0%.

Core CPI, excluding volatile items, increased by 0.3% monthly, as expected. Investors, eagerly awaiting November US CPI data for insights into the economy’s trajectory, noted the Federal Reserve’s commitment to a data-driven approach. Despite declining inflation and signs of a cooling labor market, speculation arises regarding a potential policy shift.

Federal Reserve Rates and Cryptocurrency Trends

Bitcoin’s price remained relatively stable at $41,800 following the November US CPI data. The market expected further inflation softening, reinforcing the belief that the Federal Reserve will maintain interest rates in its year-end meeting.

While today’s inflation data is unlikely to prompt a shift in market participant positioning, there is speculation that the Federal Reserve will maintain its benchmark fed funds rate at 5.25%–5.5% in the next two policy meetings.

Amid soaring speculations over the November US CPI data, investors have reacted cautiously. The crypto market experienced a bull run last month, propelling major cryptocurrencies like Bitcoin and Ethereum to yearly highs before witnessing a notable decline this week.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

BTC

CPI

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November US CPI

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Market

November US CPI Data Reaches 3.1%, Bitcoin Stabilizes at $41,800

Key Points:
  • The November US CPI data rises as expected, with a 0.1% monthly increase.
  • Core inflation aligns with predictions at 0.3%, with the Federal Reserve likely to maintain rates at 5.25%–5.5%, despite market speculation.
  • Investors tread cautiously as Bitcoin remains stable at $41,800 post-report, while the crypto market experiences fluctuations after recent highs.
In a highly anticipated release, the Bureau of Labor Statistics unveiled the November US CPI data, revealing a 3.1% surge in inflation, meeting market expectations. The all-items index showed a 0.1% monthly advance, aligning with projections and marking a slight decrease from October’s 3.2% increase.

November US CPI Data Reaches 3.1%, Bitcoin Stabilizes at $41,800

US November US CPI Data Holds Steady at 3.1%

The Core Consumer Price Index (CPI), excluding food and energy, experienced a 0.3% uptick, in line with predictions, with an annual core inflation rate of 4%, consistent with market forecasts. Monthly headline CPI saw a 0.1% rise, meeting expectations and surpassing October’s 0.0%.

Core CPI, excluding volatile items, increased by 0.3% monthly, as expected. Investors, eagerly awaiting November US CPI data for insights into the economy’s trajectory, noted the Federal Reserve’s commitment to a data-driven approach. Despite declining inflation and signs of a cooling labor market, speculation arises regarding a potential policy shift.

Federal Reserve Rates and Cryptocurrency Trends

Bitcoin’s price remained relatively stable at $41,800 following the November US CPI data. The market expected further inflation softening, reinforcing the belief that the Federal Reserve will maintain interest rates in its year-end meeting.

While today’s inflation data is unlikely to prompt a shift in market participant positioning, there is speculation that the Federal Reserve will maintain its benchmark fed funds rate at 5.25%–5.5% in the next two policy meetings.

Amid soaring speculations over the November US CPI data, investors have reacted cautiously. The crypto market experienced a bull run last month, propelling major cryptocurrencies like Bitcoin and Ethereum to yearly highs before witnessing a notable decline this week.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.