April US CPI Drop To 3.4%; BTC Price Surge To $64K
The post April US CPI Drop To 3.4%; BTC Price Surge To $64K appeared first on Coinpedia Fintech News
The Consumer Price Index, the key inflation indicator issued by the U.S. government, rose to 3.4% over the last 12 months in April, signaling sustained price growth in the economy. This figure surpassed market expectations, which had anticipated a decrease to 2.9%.
In parallel, the price of Bitcoin experienced a sudden surge to $64k, marking a 3.57% increase within the past 24 hours.
US CPI Drop To3.4%U.S. consumer prices rose less than expected in April, indicating a potential slowdown in inflation at the beginning of the 2nd quarter. This news has raised hopes in financial markets for a possible interest rate cut in September.
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