In brief
- Consumer prices rose 3% in the 12 months through September.
- Friday’s CPI report was delayed by an ongoing government shutdown.
- The Federal Reserve is expected to cut interest rates next week.
Bitcoin and other cryptocurrencies rose on Friday after a widely watched inflation gauge showed consumer prices rose at a slightly slower-than-expected pace in the U.S. last month.
The Consumer Price Index rose 3% in the 12 months through September, the Bureau of Labor Statistics said. Economists expected the index, which tracks price changes across various goods and services, to show 3.1% annual increase, according to Trading Economics.
Bitcoin changed hands around $111,300, a 2% gain over the past day, according to CoinGecko. The leading cryptocurrency by market capitalization had recovered to $113,000 on Tuesday, following its tariff-fueled drop from $121,000 two weeks ago.
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Author: André Beganski
