The Consumer Price Index (CPI) data for December has been released, showing a 2.9% increase that meets market expectations. This increase marks the largest monthly rise in eight months, exceeding the figures from November.

In addition, the Core CPI, which excludes food and energy prices, was slightly below forecasts at 3.2%. Following the CPI announcement, cryptocurrency markets saw a notable surge.

• Bitcoin’s price rose from just under $97,000 to over $98,500 shortly after the news.
• This increase represents Bitcoin’s highest value in over a week.
• It also reflects a nearly $10,000 rise since its recent low of $89,200 earlier in the week.

The market’s response indicates that investors may have anticipated the inflation data prior to its release.

📎 Related coverage from: cryptopotato.com