U.S. inflation rate hits 2.9% as Bitcoin remains around $61,000

Quick Take

According to Trading Economics data, the July US inflation rate came in slightly below expectations, with the headline inflation rate year-over-year at 2.9% versus the anticipated 3%. The month-over-month inflation rate matched forecasts at 0.2%. Core inflation, which excludes volatile food and energy prices, aligned with predictions, registering 3.2% year-over-year and 0.2% month-over-month. Following the inflation data release, Bitcoin remained flat, maintaining its price at around $61,000. The muted response suggests that the market largely anticipated the inflation figures, leaving Bitcoin’s value unchanged.

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