US inflation figures as expected, Bitcoin sees slight volatility

The US Bureau of Labor Statistics has just released its monthly Consumer Price Index (CPI) report, and the results are in line with expectations.

The CPI measures the average change over time in the prices paid by consumers for a market basket of consumer goods. It is largely used as a gauge of inflation in the country and the BLS report usually affects the market, including crypto.

Recent figures revealed an increase of 0.2%, seasonally adjusted, and 2.9%, not seasonally adjusted, over the past 12 months. The figures are in line with expectations.

Bitcoin price didn’t move as much, but volatility did increase. The price initially shot up to $61.8K, but later pulled back where it is currently trading at $61K.

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