Bitcoin (BTC) Price Remains Stable as November CPI Numbers Align with Forecasts
The Consumer Price Index (CPI), which indicates the general inflation rates in the United States, came out on December 12, showing a slight increase for November compared to the same month last year.
As the actual numbers were almost precisely like the anticipated ones, BTC’s price remained stagnant at just under $42,000.
- Most US analysts expected an increase in the year-over-year CPI for November of 3.1%. The actual data released by the US government shows they were correct.
- The core CPI, which excludes more volatile sectors like food and energy, was believed to be at 4% – another spot-on prediction.
- As such, the numbers for November didn’t really differentiate from those for October. In fact, the only difference was with the CPI, which was 3.2% for the previous month.
- Bitcoin’s price used to react with enhanced volatility earlier this year following the release of the CPI numbers.
- However, this hasn’t been the case lately, and the primary digital asset remained almost unshaken at just under $42,000, where it has been trading for most of the day.
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