Consumer prices in the US rose by 2.4% in September, above market expectations but still in a negative trend compared to the past few years.
Despite a slight increase in September, the cooling trajectory of United States inflation continues to support prospects of more interest rate cuts that could set up a favorable scenario for Bitcoin and other cryptocurrencies.
The US Bureau of Labor Statistics reported on Oct. 10 that the Consumer Price Index (CPI) rose at a 2.4% annual rate in September — its lowest level since February 2021.
The data is just above the expected 2.3% for the month but still in a negative trend — below August’s year-over-year increase of 2.5%. Two years ago, the country’s inflation rate stood at 8.2%. It peaked at 9.1% in June 2022.
