Bitcoin and Gold Rebound After Hot Core CPI

Bitcoin and gold prices briefly tumbled after the August U.S. inflation report showed stronger-than-expected monthly core price growth, adding pressure ahead of the Federal Reserves September policy decision. Annual core inflation came in at 2.4%, matching forecasts, while headline CPI stood at 3.4%, also in line with expectations. However, core CPI, which excludes volatile food and energy costs, increased 0.3% month over month, exceeding the 0.2% consensus estimate. The unrounded monthly core CPI reading was 0.29%, above the range of forecasts published before the report. At that pace, core…  Read more

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