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U.S. September CPI Rises 0.4%, Outpacing Forecasts; Bitcoin Slips Further

The year-over-year pace of inflation was 3.7%, also faster than economist expectations.

Na-update Okt 12, 2023, 12:48 p.m. Nailathala Okt 12, 2023, 12:39 p.m. Isinalin ng AI
The U.S. released its latest inflation figures on Thursday (Getty Images)
The U.S. released its latest inflation figures on Thursday (Getty Images)

The Consumer Price Index (CPI) for September rose 0.4% versus economist estimates of 0.3% and the previous month's 0.6%. On a year-over-year basis in September, the CPI rose 3.7% versus forecasts of 3.6% and August's 3.7%

The core CPI – which strips out food and energy costs and which has been more stubborn in coming down than the headline rate – rose 0.3% in September against estimates of 0.3% and 0.3% the previous month. Year-over-year core CPI was 4.1% versus 4.1% forecast and 4.3% in August.

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The price of bitcoin [BTC] added to early losses following the news, now down 1.2% to $26,770.

Released yesterday afternoon, the minutes of the most recent meeting of the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) suggested policymakers were mostly in agreement that they would likely need to hike rates one more time before ending the monetary tightening cycle.

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Currently, rate traders are expecting just about a 10% chance that rate hike could come at the Fed's November meeting, but the odds go up to 30% by year-end, according to the CME's FedWatch.


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CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.

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