Add as a preferred source on GoogleBitcoin Trades Below $82,000 After September Inflation Data
Consumer prices rose 3.7% over the year, while core prices increased 2.6%, renewing concerns that interest rates could stay high.
Bitcoin (BTC) traded below $82,000 after the September Consumer Price Index report was released Wednesday, as higher annual inflation readings renewed concerns that interest rates could stay high.
Consumer prices rose 0.6% from August and 3.7% over the year. Core CPI, which excludes food and energy, increased 0.3% for the month and 2.6% annually.
The annual headline and core readings were higher than in August.
The inflation report adds to the data markets are weighing as they assess the Federal Reserve’s policy outlook. The central bank’s next policy meeting is scheduled for Oct. 27–28.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.