The US Bureau of Labor Statistics just published the Consumer Price Index data for July, which has essentially matched most expectations, with the regular CPI coming in at 3.3% to 3.4%.<\/p>\n
The substantial increase in the CORE CPI of 2.5% was official, given the decline<\/a> in June due to the decreasing energy costs at the time, which were considered misleading given the brief de-escalation in the Middle East war.<\/p>\n Reports ahead<\/a> of the CPI release claimed that a modest increase would continue to reduce the chances for a Federal Reserve rate hike in September.<\/p>\n This narrative received further validation at the end of the previous business week when the US jobs report showed<\/a> a substantial decline in non-farm payrolls, starkly contrasting with market expectations.<\/p>\n Although reality matched expectations for the July data, bitcoin\u2019s price reacted with a small price decline. The asset had recovered from yesterday\u2019s low at 63,200 and jumped to $64,400 minutes before the data was released.<\/p>\n However, it was stopped there, and its initial reaction has been quite modest, as it has dipped by a few hundred dollars. Nevertheless, analysts remain adamant<\/a> that the CPI data is key to understanding the cryptocurrency\u2019s next big move.<\/p>\n The post Bitcoin Price Holds Steady as US July CPI Comes in as Expected<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The US Bureau of Labor Statistics just published the Consumer Price Index data for July, which has essentially matched most expectations, with the regular CPI coming in at 3.3% to 3.4%. The substantial increase in the CORE CPI of 2.5% was official, given the decline in June due to the decreasing energy costs at the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-212264","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/212264"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=212264"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/212264\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=212264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=212264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=212264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}