The latest report from the #US Department of Labor showed that the US Consumer Price Index (CPI) for January 2024 exceeded experts' expectations with a 3.1% year-on-year increase. This growth exceeded the expected 2.9%.
If we consider the core index, which excludes food and energy, it grew by 3.9% year-on-year and 0.4% month-on-month.
It is worth noting that the index was at 3.4% in December 2023. Such a decline indicates a slowdown in #inflation, which is confirmed by the data for previous months.
After the publication of inflation data, the value of bitcoin experienced a downward trend. The price of the cryptocurrency fell below the $49,200 mark and is currently holding around $49,500.
Recall that in December 2023, the consumer price index reached an annualized rate of 3.4%.
