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US CPI Data: The crypto prices reacted negatively to the higher than expected CPI data. The U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) data for the month of January. The data came amid widespread anticipation for significant reduction in inflation, in hopes of further loosening of monetary policy by the Fed in the months to come. The US inflation fell to 6.4%, higher than expectations of 6.2% rise year-over-year.
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Higher Than Expected Inflation Data
The headline CPI for January came out at 6.4% against an expectation of 6.2%, while the core CPI stood at 5.6%, against an expectation of 5.5%. This led to a light rise in the U.S. Dollar Index (DXY), which is currently at 102.95.
The post Breaking: Crypto Prices Drop With Higher Than Expected US CPI Data appeared first on CoinGape.
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