US: Inflation dips to 2.5% - Bitcoin price steady

Today, September 11, the U.S. Bureau of Labor Statistics released the long-awaited inflation data for August.

Today, September 11, the U.S. Bureau of Labor Statistics released the long-awaited inflation data for August. The figures show inflation at 2.5% year over year in the United States. Analysts had expected a drop of 0.4 percentage points from the prior reading of 2.9% to 2.5%.

With the ongoing decline, the inflation rate has fallen for the fourth month in a row. In the previous month, the rate had eased to 2.9%—below analysts’ 3% projection. This suggests the troublesome trend of rising American consumer prices may be nearing an end.

The U.S. stock market is likely to react positively to cooler consumer prices. The probability of multiple rate cuts by year-end has probably increased. If the inflation print were to fall by less than expected or rise above last month’s 3% level, it would likely weigh heavily on riskier assets, including crypto prices.

Currently, Bitcoin price is virtually unchanged at about $57,000, down from recent highs.