Bitcoin Unfazed as CPI For July Increases by 0.2% MoM
July's CPI announcement didn't do much to BTC's price this time.
The numbers for July’s Consumer Price Index are here. The market has failed to react as Bitcoin’s price recorded an ever-so-slight uptick in volatility before calming back down almost immediately.
- The Bureau of Labor Statistics of the United States has just revealed the rate of July’s Consumer Price Index.
- To those unaware, it’s the metric that many people use to gauge the rate of inflation in the country.
- Per the announcement, the Consumer Price Index for All Urban Consumers increased by 0.2%, seasonally adjusted.
The US #CPI Numbers for July are in:
-> CPI +3.2% YoY (EST. +3.3%)
-> CORE CPI +4.7 % YoY (EST. +4.8%)This time, the news did not drive much movement, with $BTC barely climbing by $50! pic.twitter.com/jwUXDHsygk
— CryptoPotato Official (@Crypto_Potato) August 10, 2023
- This adds up to 3.2% over the past 12 months, not seasonally adjusted.
- The index for all items, excluding food and energy, also increased by 0.2%.
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