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<p>The post <a href="https://coinpedia.org/news/cpi-data-drops-below-3-for-first-time-since-march-2021/">CPI Data Drops Below 3% For First Time Since March 2021!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The latest data from the U.S. Bureau of Labor Statistics reveals that July’s Consumer Price Index (CPI) inflation rate has fallen to 2.9%, breaking its forecasted rate of 3%.</p> 
<p>With this drop, the U.S. CPI has broken its streak of 39 months with an inflation rate at or above 3% and the fourth consecutive month of declining CPI inflation. Notably, this suggests a potential shift in the environment of the current financial landscape.</p> 
<h2 class="wp-block-heading" id="h-cooling-inflation-trends">Cooling Inflation Trends</h2> 
<p>The U.S. CPI inflation rate eased to 2.9% in July, down from 3.0% in the previous month, and 3.3% in May. This decline indicates a cooling trend in inflation over the past year.</p> 
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   <p lang="en" dir="ltr">U.S CPI (MOM) (JUL) ACTUAL: 0.2% VS -0.1% PREVIOUS; EST 0.2%<br><br>U.S CPI (YOY) (JUL) ACTUAL: 2.9% VS 3.0% PREVIOUS; EST 3.0%<br><br>U.S CORE CPI (MOM) (JUL) ACTUAL: 0.2% VS 0.1% PREVIOUS; EST 0.2%<br><br>U.S CORE CPI (YOY) (JUL) ACTUAL: 3.2% VS 3.3% PREVIOUS; EST 3.2%</p>— *Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/1823698723769082026?ref_src=twsrc%5Etfw">August 14, 2024</a>
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<p>The latest CPI data came out at 2.9%, slightly below the anticipated 3.0%. This is a strong indicator that inflation is constantly cooling down at a steady rate. This further increases the possibility of a rate cut in September of this year.</p> 
<p>With this, the cryptocurrency market may experience a significant uptrend in valuation during the coming time.</p> 
<h2 class="wp-block-heading" id="bitcoin-btc-price-action">Bitcoin (BTC) Price Action</h2> 
<p>Post-release of the CPI data, Bitcoin’s price surged by 2%, currently trading at $58,859. Further, with the bulls continuing to gain momentum, the BTC price could record a high of $ this month.</p> 
<p>Notably, the recent price surge suggests that the investors are holding on to their positions and have declined the option of booking the profits.</p> 
<p>Thus this bullish environment suggests that the star crypto could rise even higher, potentially exceeding 15%. With the current positive market momentum, Bitcoin could slingshot to $60,000 soon.</p>

CPI Data Drops Below 3% For First Time Since March 2021!

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