Bitcoin Dips After Inflation Comes in Slightly Hot

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Inflation continued to cool in January, but not by as much as traders had hoped for. bitcoin is modestly lower on the news. SteveAlpher reports

The Consumer Price Index for January rose 0.5% versus 0.1% a month earlier, and in line with economist forecasts.

The core CPI – which strips out food and energy costs – rose 0.4% in January, also in line with expectations and flat from December's pace. Year-over-year core CPI in January was faster than forecast at 5.6% versus 5.5% expected and down from 5.7% a month earlier.

 

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