In an unprecedented announcement from the Labor Department\u2019s Bureau of Labor Statistics, the official Consumer Price Index numbers for October exceeded expectations. The actual data showed a 0.4% increase in the headline CPI and 0.3% in the Core CPI, which excludes energy and food.<\/p>\n
Before today\u2019s release, experts speculated that the October reading would show a 0.3% month-over-month increase, while Core CPI was expected at 0.2%. What was particularly interesting about today\u2019s announcement is that it came without year-over-year numbers, as the BLS said that missing data from the October 2025 government shutdown \u201cprevents reliable annual comparison.\u201d<\/p>\n
\u201cWhat you will see in \u200bthe data is further evidence of stubborn and sticky inflation, especially in the service sector,\u201d said<\/a> Joseph Brusuelas, chief economist at RSM, before the reading went live. \u201cThat will result in a December \u200brate hike, and I do not expect the October CPI data to dislodge the Fed from that monetary path.\u201d<\/p>\n Recall that the September CPI data showed a major uptick of 3.7% YoY, which was slightly higher than the estimated 3.6%. BTC reacted<\/a> at the time with an immediate nosedive as expectations for a Fed rate hike rose but didn\u2019t materialize in October.<\/p>\n The current reaction has been equally volatile, and odds of the US central bank raising rates at the last FOMC meeting of the year are well above 90%.<\/p>\n The cryptocurrency\u2019s price was already struggling to remain above $74,000, but the reading pushed it well below that level as it currently sits at multi-month levels at $73,600.<\/p>\n The post Bitcoin Price Tanks Again as October US CPI Data Tops Expectations<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In an unprecedented announcement from the Labor Department\u2019s Bureau of Labor Statistics, the official Consumer Price Index numbers for October exceeded expectations. The actual data showed a 0.4% increase in the headline CPI and 0.3% in the Core CPI, which excludes energy and food. Before today\u2019s release, experts speculated that the October reading would show […]<\/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-249807","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/249807"}],"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=249807"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/249807\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=249807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=249807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=249807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}