The annual consumer price index for October in the United States was announced at 3.2%. The expectation was 3.3 percent. The September figure was 3.7%. Core inflation, which the Fed and the Biden administration care most about, came in at 4.0 percent. Here also the expectation was 4.1%.
Rise in Bitcoin, Gold and Silver
Following the announcement of inflation data, a rise in assets with tight supply was seen. While Bitcoin rose above $36,500, gold and silver, which had fallen in recent weeks, also gained value.
What will the Fed do?
As is known, inflation data is of great importance in the interest rate decisions of the US Federal Reserve (Fed). Fed Chairman Powell has recently said that he will not act without looking at the data and will keep taking decisions from meeting to meeting. The Fed, which will hold its next meeting on December 13, is not expected to raise interest rates at this meeting.
It is known that oil prices are particularly important in US inflation. The price, which rose with the Israeli-Palestinian war, fell again below $85 last week. The price per barrel of Brent oil is currently around $82.
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