US CPI for April Clocks Lower Than Expected, BTC Price Remains Flat
The Consumer Price Index in the United States for April shows a slightly positive sign as the actual number is at 2.3%, while the general expectations were for 2.4%.
This gives hopes for market participants who backed US President Trump in requesting an interest rate cut later this year from the Fed.
The general expectations indicated that the regular CPI will show an increase of 2.4%, while the actual numbers are at 2.3%. On a monthly scale, this means a 0.2% rise.
The Core CPI, which excludes more volatile sectors like food and energy, clocked in at 2.8%, which is exactly in line with expectations.
Recall that Trump indicated that these lower rates mean there is no inflation in the United States economy. However, experts believe that consumers minds are focused mostly on tariffs, with such mentions reaching new all-time highs, reported NBC News.
Although the April numbers are more optimistic than anticipated, BTCs price has not yet made a big move. The asset had recovered from yesterdays drop below $101,000 and stood close to $104,000 before the announcement.
In the first 10 minutes after the numbers went out, bitcoin remained relatively still, with little to no movement in either direction.
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Text source: CryptoPotato
