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US: Inflation rises to 3.0 percent - this is how Bitcoin exchange rate reacts

On February 12, the U.S. Bureau of Labor Statistics released the long-awaited inflation figures for the month of January.

By Mike Hesp
• 1 min read
US: Inflation rises to 3.0 percent - this is how Bitcoin exchange rate reacts

On February 12, the U.S. Bureau of Labor Statistics released the long-awaited inflation figures for the month of January. According to the year-on-year comparison, inflation in the United States has risen to 3.0 percent. Experts had forecast unchanged inflation from the previous month , meaning the actual figures exceeded their expectations by 0.1 percentage point.

This is the fourth consecutive time that US inflation has shown an upward trend. In December, the consumer price index was up 2.9 percent year-on-year, which was also 0.1 percentage point higher than analysts' expectations. This shows that the problematic trend in US consumer prices is more persistent than expected, which could significantly complicate monetary policy easing by the Federal Reserve in the first half of the year.

In response, Bitcoin's price fell to US$94,800, down 2.8 percent from the day before. Meanwhile, Ether fell 3.5 percent to US$2,580, while XRP fell 5.2 percent to US$2.35.

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