CPI Inflation Jumped to 3.7% in August, Bitcoin Price (BTC) Flat

Bitcoin Price (BTC) Steady as U.S. July CPI Inflation Mostly In Line, Rising 0.2% for Month, 3.2% Y/Y

Surging oil prices – WTI crude oil rose to its highest levels of 2023 in August (the move continuing into September) – were a major factor in the rise of headline inflation last month. The U.S. Federal Reserve, though, will likely take comfort in the continuing decline in core inflation rate, which fell to its weakest pace since mid-2021.

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