{"id":19765,"date":"2023-04-12T14:42:03","date_gmt":"2023-04-12T14:42:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-consumer-price-index-rises-0-1-in-march-annual-inflation-up-5-from-last-year-bitcoin-news\/"},"modified":"2023-04-12T14:42:03","modified_gmt":"2023-04-12T14:42:03","slug":"us-consumer-price-index-rises-0-1-in-march-annual-inflation-up-5-from-last-year-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-consumer-price-index-rises-0-1-in-march-annual-inflation-up-5-from-last-year-bitcoin-news\/","title":{"rendered":"US Consumer Price Index Rises 0.1% in March, Annual Inflation up 5% From Last Year \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

On Wednesday, the U.S. Bureau of Labor Statistics published the Consumer Price Index (CPI) report, which noted that inflation rose 0.1% last month in March and 5% from a year ago. Annual inflation has dropped for nine consecutive months following the nine times the U.S. Federal Reserve raised the federal funds rate.<\/strong><\/p>\n

U.S. Inflation Cools for the 9th Straight Month<\/h2>\n

Investors were pleased to hear the latest U.S. Consumer Price Index (CPI) report on Monday, which noted that inflation has cooled over the last nine months. \u201cThe Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in March on a seasonally adjusted basis, after increasing 0.4% in February,\u201d the U.S. Labor Department explained<\/a> on Wednesday. The news follows the U.S. central bank raising<\/a> the benchmark interest rate by 25 basis points last month.<\/p>\n

The Fed has increased the federal funds rate nine times in a row, to a total of 475-500 basis points. The latest data indicates that inflation has dropped significantly since last year in the U.S., but it is still far from reaching the Fed\u2019s stated goal of 2%. After the CPI report was published, the global crypto economy\u2019s total market capitalization jumped to $1.23 trillion. It had dropped a few percentage points on the night of April 11, 2023, at 10:45 p.m. Eastern Time.<\/p>\n

Currently, bitcoin (BTC)<\/a> is trading above the $30,000 range, up 0.80% after the Labor Department\u2019s CPI report was published. Gold is up 0.81% and trading for $2,021 per troy ounce, while silver is up 1.82% to $25.60 per ounce on Wednesday morning at 9:30 a.m. Eastern Time. The CME Fedwatch tool<\/a> currently indicates a 67.5% chance that the Fed will raise the benchmark rate again by 25 basis points in May. Roughly 32.5% of investors using the Fedwatch tool are betting that there will be no rate hike next month.<\/p>\n

While the market is pricing in a 25-basis-point increase next month, several economists believe<\/a> it will likely be the final rate hike of 2023. Despite policymakers believing the inflation rate can drop down to the 2% region, economist and gold bug Peter Schiff<\/a> has argued<\/a> on several occasions that America\u2019s \u201cdays of sub-2% inflation are gone.\u201d Schiff reiterated this belief after the CPI report was published on Wednesday.<\/p>\n

\u201cThe catalyst for this morning\u2019s $20 jump in the gold price is the March CPI rising a bit less than expected,\u201d Schiff tweeted<\/a> in response to the latest CPI data. \u201cBut core CPI still spiked 0.4%, which annualizes to over 5%. The real reason gold is rising is that high inflation is here to stay. Soon YoY CPI gains will hit new highs.\u201d<\/p>\n

Not everyone is as pessimistic as Schiff, however. The CEO of Your Money Line, Peter Dunn, talked about the CPI data on Wednesday and emphasized<\/a> that people should feel good about the recent trends on News Nation.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
annual inflation<\/a>, asset prices<\/a>, Benchmark Rate<\/a>, Bitcoin<\/a>, bonds<\/a>, CME Fedwatch<\/a>, commodities<\/a>, consumer price index<\/a>, CPI report<\/a>, Cryptocurrency<\/a>, economists<\/a>, Economy<\/a>, Fed’s goal<\/a>, Federal Funds Rate<\/a>, Financial News<\/a>, global market<\/a>, gold<\/a>, high inflation<\/a>, inflation<\/a>, interest rates<\/a>, investment<\/a>, Investors<\/a>, market analysis<\/a>, Market Capitalization<\/a>, market fluctuations<\/a>, Market Trends<\/a>, Peter Schiff<\/a>, policymakers<\/a>, Rate Hike<\/a>, silver<\/a>, Stock Market<\/a>, sub-2% inflation<\/a>, trading<\/a>, U.S. Federal Reserve<\/a>, Your Money Line<\/a>, YoY CPI gains<\/a><\/div>\n<\/div>\n

What are your thoughts on the latest CPI report and its impact on the economy? Share your insights and opinions in the comments section below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n