Crypto markets were on the edge this week with the release of key data in the United States. From inflation prints to retail sales, the data indicated a plethora of takeaways for digital asset enthusiasts. Here are the top 3 key takeaways that crypto investors should keep in mind while reading this week’s economic data.
Fed’s Rate Cuts
Both the CPI and PPI data suggested that inflation is proving to be sticker than what the market would have wanted it to be. The US PPI inflation data was released concurrently with the weekly unemployment figures. The US PPI inflation data released on Friday by the Bureau of Labor Statistics show that wholesale inflation peaked in February. The PPI index, which measures the price at which raw materials are sold on the open market, registered 0.6% in February as opposed to the 0.3% economists had projected. In comparison, there was a 0.3% increase in January as well.
In contrast to expectations, the US annual inflation rate came in at 3.2%, exceeding
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