The US CPI report for August indicated a fall in inflation to 2.5%, down from 2.9% in July, as reported by the US Bureau of Labor Statistics. This measure tracks average price changes consumers pay for goods and services.
Although economists expected a 2.6% rise, the actual figure met most estimates, reflecting a moderation in inflation. This data is crucial for the upcoming Federal Open Market Committee (FOMC) meeting, potentially influencing rate cut decisions.
Despite the favorable inflation data, Bitcoin's subdued response suggests markets had anticipated these figures. Bitcoin traded at $56,528, down 1.51% since Wednesday.
