{"id":7805,"date":"2025-01-15T13:47:05","date_gmt":"2025-01-15T13:47:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7805"},"modified":"2025-01-15T13:47:05","modified_gmt":"2025-01-15T13:47:05","slug":"unexpected-decline-in-core-cpi-sends-bitcoin-price-higher","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7805","title":{"rendered":"Unexpected Decline in Core CPI Sends Bitcoin Price Higher"},"content":{"rendered":"
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While headline inflation came in faster than hoped in December, investors for the moment are in buy mode after an unexpected decline in the year-over-year core rate.<\/p>\n<\/p>\n

The closely-watched Consumer Price Index<\/a> (CPI) increased 0.4% in December, slightly higher than analyst consensus and the previous month’s 0.3%. On a year-over-year basis, CPI was up 2.9%, compared to analyst forecasts for 2.9% and previous month’s reading at 2.7%.<\/p>\n<\/p>\n

Core CPI, which excludes food and energy costs, rose 0.2% in December, versus expectations for 0.2% and the previous month’s 0.3% figure. Core CPI year-over-year, however, dipped to 3.2% against forecasts for 3.3% and the November rate of 3.3%.<\/p>\n

The core pace of inflation is of considerable import to policymakers, who have expressed at least a modest bit of frustration over its stickiness above 3% as headline inflation fell at a far quicker pace.<\/p>\n

The price of bitcoin (BTC<\/a>) rose about $1,500 in the minutes following the report to $98,500 following the report, up 2% over the past 24 hours, CoinDesk data shows.<\/p>\n

In traditional markets, U.S. stock index futures added about 0.5% after the data, while bond yields and the dollar both sharply declined.<\/p>\n

Crypto markets have traded rangebound through January at the whims of macroeconomic data<\/a> and monetary policy expectations<\/a> amidst a strong economy and concerns of sticky inflation. Bitcoin consolidated mostly below $100,000 since Federal Reserve Chair Jerome Powell’s hawkish comments<\/a> in December. That, along with a string of stronger-than-forecast economic and inflation data, led market participants to nearly erase all expectations for rate cuts this year.<\/p>\n

Most recently, Tuesday’s Producer Price Index<\/a> (PPI) for December showed cooler than expected inflation readings, supporting BTC’s rebound to $97,000 following the abrupt sell-off below $90,000 earlier in the week.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

While headline inflation came in faster than hoped in December, investors for the moment are in buy mode after an unexpected decline in the year-over-year core rate. The closely-watched Consumer Price Index (CPI) increased 0.4% in December, slightly higher than analyst consensus and the previous month’s 0.3%. On a year-over-year basis, CPI was up 2.9%, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7805","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7805"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7805\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}