Bitcoin Unfazed as CPI For July Increases by 0.2% MoM

The numbers for July’s Consumer Price Index are here. The market has failed to react as Bitcoin’s price recorded an ever-so-slight uptick in volatility before calming back down almost immediately.

• The Bureau of Labor Statistics of the United States has just revealed the rate of July’s Consumer Price Index.
• To those unaware, it’s the metric that many people use to gauge the rate of inflation in the country.
• Per the announcement, the Consumer Price Index for All Urban Consumers increased by 0.2%, seasonally adjusted.

The US #CPI Numbers for July are in:

-> CPI +3.2% YoY (EST. +3.3%)
-> CORE CPI +4.7 % YoY (EST. +4.8%)

This time, the news did not drive much movement, with $BTC barely climbing by $50! pic.twitter.com/jwUXDHsygk

— CryptoPotato Official (@Crypto_Potato) August 10, 2023

• This adds up to 3.2% over the past 12 months, not seasonally adjusted.
• The index for all items, excluding food and energy, also increased by 0.2%.