After the Bitcoin made a massive rally of over 20% in the wake of the banking crisis in the United States, all eyes were on the new inflation data in the US today. The release of the Consumer Price Index (CPI) for February came from the US Bureau of Labor Statistics (BLS) at 8:30 EST. And these are the numbers:<\/p>\n
The annual inflation rate was 6.4% in January and was estimated at 6.0% for February. The February Consumer Price Index released today showed inflation at 6.0%, in line with expectations. Annual core inflation was forecasted at 5.5%, down from 5.6% in January. Today’s release was 5.5%.<\/p>\n
On a monthly basis, the U.S. consumer price index was 0.4% in February. The forecast was for 0.4%, down from 0.5% last time. Core inflation on a monthly basis shows a similar picture. It was reported today at 0.5% for February, with both the forecast for February and actual for January standing at 0.4%.<\/p>\n
Thus, the inflation data comes out almost exactly as expected, only the core inflation MoM is slightly higher than expected.<\/p>\n
\nCPI: 6.0% – Forecast 6.0% <\/p>\n
Core CPI: 5.5% – Forecast 5.5% <\/p>\n
Which means, entirely as expected.<\/p>\n
— Micha\u00ebl van de Poppe (@CryptoMichNL) March 14, 2023<\/a><\/p><\/blockquote>\n