![US inflation cools down with Bitcoin reacting mildly to new CPI data](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/11/us-inflation-down-1.jpg&w=70&h=37&q=75)
Quick Take
The recently released U.S. inflation data portrays a compelling story. The headline inflation Year-over-Year (YoY) for October was expected to be 3.3%, while it actually recorded a slightly slower pace at 3.2%, down from September’s 3.7%.
Similarly, the core inflation YoY, a measure excluding volatile food and energy prices, also displayed a downtrend. Expected at 4.1%, it arrived at 4%, a minor increase from September’s 4.1%. This lower-than-anticipated inflation data suggests a slight cooling off in the inflationary pressures, which have been a significant concern for the U.S. economy.
Interestingly, concurrently with the CPI release, Bitcoin experienced a minor flux. The cryptocurrency, known for its volatility, was valued at $36,300 before the CPI data was made public and climbed slightly to $36,600 after that.