As Bitcoin drops into the $39,000 range for the first time since March 16, the White House has just announced. They expect “extraordinarily elevated” headline CPI data to be released tomorrow, April 12. The statement confirms that gas prices in the US rose roughly 25% in March, and these figures will drive tomorrow’s inflation readings.
NOW – White House warns of „extraordinarily elevated” inflation data.pic.twitter.com/3ZDqpHFgoc
— Disclose.tv (@disclosetv) April 11, 2022
Inflation expectations are higher than anticipated.
In February, CPI data showed that inflation had reached 7.9% as motor fuel prices increased by just 6.7%. Suppose we replace the seasonally adjusted month-on-month figure of 6.7% for gas in February with the reported value of 25%. In that case, we get headline inflation that could drive the markets into turmoil. The current forecast is for inflation to increase to 8.4% in March. However, this data suggests that we could see a figure of over 15%. Chainlin
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