US CPI Data: The crypto prices reacted negatively to the higher than expected CPI data. The U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) data for the month of January. The data came amid widespread anticipation for significant reduction in inflation, in hopes of further loosening of monetary policy by the Fed in the months to come. The US inflation fell to 6.4%, higher than expectations of 6.2% rise year-over-year.
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The January inflation numbers came out to be disappointing for traders who were expecting the index to be at 6.2%. However, on a positive note, the latest fall in inflation marks such a decline for the seventh month in a row, although it misses the market expectation. A summary from the US agency said CPI for urban consumers rose 0.5 percent in January on a seasonally adjusted basis. This is a significant rise compared to an increase of 0.1 percent for the same indic
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