Editor's PiCK
US April Consumer Prices Rise 2.3% YoY, Below Wall Street Expectations
Summary
- The US April Consumer Price Index (CPI) rose 2.3% year-on-year, falling short of Wall Street expectations.
- The Core CPI rose 2.8% year-on-year, meeting Wall Street expectations, but the month-on-month increase was lower than expected.
- After the CPI announcement, Bitcoin (BTC) temporarily surged, reaching up to $103,961.
The US Consumer Price Index (CPI) for April rose 2.3% year-on-year. This is the lowest rate of increase in four years since February 2021 (1.7%).
According to the US Department of Labor's announcement on the 13th (local time), the US April CPI rose 2.3% year-on-year and 0.2% month-on-month. Both figures slightly fell short of Wall Street experts' expectations (2.4%, 0.3%).
The Core CPI, excluding food and energy sectors, also rose 2.8% year-on-year, meeting Wall Street expectations (2.8%). Month-on-month, it rose 0.2%, falling short of Wall Street expectations (0.3%). The Core CPI is an indicator excluding energy and food prices, which are highly volatile in the short term, allowing for an assessment of the underlying trend of prices.
With the CPI lower than expected, Bitcoin (BTC) also surged, reaching up to $103,961. As of 9:38 PM, Bitcoin is trading at $103,844 on the Binance USDT market, down 0.22% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
