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US CPI Data Sees Bitcoin Price React Swiftly

Guavy AI Editorial Team
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BTC
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The latest US Consumer Price Index (CPI) data for August was released on Friday, showing a 3.4% year-over-year increase in regular CPI and a 0.4% monthly jump.

This matched expectations to a large degree, with some minor differences in the core CPI numbers, which exclude food and energy sectors.

BTC's price reacted swiftly to the news, plummeting by approximately $1,000 before recovering quickly to over $77,000 as of press time.

The release of this inflation data marks the conclusion of a busy week for economic indicators, with the PPI report showing a more notable 5.4% jump yesterday.

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