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In July, the US inflation measured by the Consumer Price Index (CPI) rate slightly eased, coming in at 2.9% year-over-year, just under the expected 3%, as reported by the US Bureau of Labor Statistics (BLS) on Wednesday. Month-to-month inflation held steady at 0.2%, matching predictions. 
Core inflation, which strips out the volatile prices of food and energy, also met expectations at 3.2% year-over-year and 0.2% month-over-month. 
The news didn’t shake up Bitcoin’s price which stayed steady around $61,000. This calm reaction suggests that the market had anticipated these inflation numbers, so Bitcoin’s value remained unchanged. 
Investors seemed to have already factored these inflation figures into their expectations, leading to a stable Bitcoin market despite the fresh economic data. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/14/atlanta-fed-hints-at-possible-interest-rate-cut-soon/" target="_blank" rel="noreferrer noopener">Atlanta Fed Hints at Possible Interest Rate Cut Soon</a> 
</blockquote>

Bitcoin Steady at $61,000 Amid 2.9% U.S. CPI Rate

The Crypto Times

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