US Inflation Matches Forecasts, Leaving Rate Hike Decision on Knife's Edge

US inflation data for July matched Wall Street forecasts at 3.4% year-over-year, keeping the September Federal Reserve rate hike a live possibility for Bitcoin traders.

The Bureau of Labor Statistics reported that headline prices rose by 0.1% on the month, reversing June's 0.4% decline.

Core CPI, which strips out volatile food and energy costs, climbed 0.2% in July and 2.5% from a year earlier, both matching consensus estimates.

The result was seen as neither dovish nor hawkish, leaving the debate over the September rate decision still open.