US inflation meets forecasts as Bitcoin again threatens $42,000
As US CPI matches 3.1% expectation, Bitcoin continues to show strength above $40,000
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Quick Take
The Dec. 12 US CPI inflation data revealed that the headline inflation year over year matched the expected result of 3.1%. Similarly, the core inflation year over year did not stray from the predicted 4.0%. These statistics indicate consistency in economic forecasting, demonstrating that the inflationary situation is developing as anticipated by analysts.
| Time | Indicator | Actual | Previous | Consensus |
|---|---|---|---|---|
| 1:30 PM | Core Inflation Rate MoM NOV | 0.3% | 0.2% | 0.3% |
| 1:30 PM | Core Inflation Rate YoY NOV | 4% | 4% | 4% |
| 1:30 PM | Inflation Rate MoM NOV | 0.1% | 0% | 0% |
| 1:30 PM | Inflation Rate YoY NOV | 3.1% | 3.2% | 3.1% |
US Inflation Data: (Source: Trading Economics)
Against the backdrop of this unfolding inflationary scenario, Bitcoin's value broke $42,000 on Coinbase, briefly up 1.8% on the day, before falling back below $42,000.
