This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The latest Consumer Price Index (CPI) data for the United States was released on December 12, revealing a slight increase in inflation rates for November compared to the same period last year. The numbers were in line with analysts’ expectations, resulting in little movement in the price of Bitcoin (BTC), which remained steady at just under $42,000.
Analysts had predicted a year-over-year CPI increase of 3.1% for November, and the actual data released by the US government confirmed their forecast. The core CPI, which excludes more volatile sectors such as food and energy, was also predicted to be at 4%, and this prediction was accurate as well.
Overall, the November CPI figures did not significantly differ from those of October, with the only notable difference being a CPI of 3.2% for the previous month. In the past, Bitcoin’s price would react with increased volatility following the release of CPI numbers. However, this has not been the case recently, as the primary digital asset remained relatively unaffected, trading around $42,000 for most of the day.