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U.S. October Inflation Continued Climbed In October, Bitcoin Soared To An ATH Close To $69K
Summary: Today, the Department of Labor released the U.S. Consumer Price Index (CPI) report of October. The data shows that CPI rose 6.2% in October from the same period last year, the fastest increase since 1990. Excluding the volatile food and energy sectors, core inflation rose by 4.6%, the highest level since August 1991. Economists had ...
Today, the Department of Labor released the U.S. Consumer Price Index (CPI) report of October. The data shows that CPI rose 6.2% in October from the same period last year, the fastest increase since 1990. Excluding the volatile food and energy sectors, core inflation rose by 4.6%, the highest level since August 1991.
Economists had predicted that the CPI would rise 5.9% in October in the past 12 months. The actual data frustrated Washington's hopes of a slowdown in inflation.
After the report was released, it continued to arouse investors' concerns about rising inflation. Bitcoin is regarded by the crypto industry as an excellent inflation hedge. According to data from the Bitpush Terminal, the price of Bitcoin (BTC) rose by nearly $3,000 in a short period of time, setting a record high of $68,732.
By Mary Liu
Tags: Bitcoin,inflation
Link: U.S. October Inflation Continued Climbed In October, Bitcoin Soared To An ATH Close To $69K [Copy]
