US PPI Inflation Comes In At 2.4%; Will It Hinder Bitcoin Rally To $100K?

Quick Summary:

This comes a day after the US CPI inflation figure showed a spike in the inflationary figure for the first time in eight months.

The latest US Producer Price Index (PPI) data showed that the inflation has come in at 2.4%, up from the September reading of 1.9%.

Besides, the market concerns are also fueled as this set of data is also crucial for the Fed’s decision on their monetary stimulus plan.

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Article Details

Author / Journalist: Rupam Roy

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News US PPI Fed rate cut Bitcoin (BTC) Price US Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 13:40:20 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 279 words

Reading Time: 2 minutes read

Sentences: 39 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23586126

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