According to the US Bureau of Labor Statistics report, the Consumer Price Index (CPI) increased by only 0.2% in February, while expectations were 0.3%. This rate decreased from the 0.5% growth in January. The annual inflation rate also dropped to 2.8%, while it was expected to be 2.9%. The core CPI, excluding food and energy costs, grew by 0.2%, lower than the expected 0.3%. The annual core inflation rate was announced at 3.1%, below the 3.2% prediction. In response, Bitcoin price rose by over 1% to reach $84,100. Prior to this report, markets had anticipated an 85% likelihood of a Federal Reserve interest rate cut by the June meeting. Now, investors await the Producer Price Index (PPI) release on Thursday, which may provide further insights into inflation trends and monetary policies.
