US December Consumer Prices Rise 2.9% YoY, Meeting Wall Street Expectations

YM Lee

Summary

The December Consumer Price Index (CPI) rose by 2.9% year-on-year, meeting Wall Street expectations.
Bitcoin (BTC) recorded a sharp upward trend after the CPI announcement, rising by more than $1,300.
The Core CPI rose by 3.2%, falling short of Wall Street expectations.

The Consumer Price Index (CPI) in the United States for December rose by 2.9% compared to the previous year.

According to the U.S. Department of Labor's announcement on the 15th (local time), the November CPI in the United States rose by 2.9% year-on-year and 0.4% month-on-month. These figures were in line with Wall Street experts' expectations.

The Core CPI, excluding food and energy sectors, rose by 3.2% year-on-year and 0.2% month-on-month, falling short of Wall Street's expectations (3.2%, 0.3%).

Following the inflation data release, Bitcoin (BTC) has recorded a sharp upward trend. Bitcoin, which was trading at around $97,200 before the announcement, has risen by more than $1,300 to trade at $98,600.