Bitcoin & Ethereum Soar After US Inflation Drops Below Forecasts

Today’s release of the US Consumer Price Index (CPI) numbers revealed a surprising downward trend, with inflation showing less than expected for July. The regular CPI came in at 2.7% year-over-year, defying forecasts of 2.8%, and Core CPI, excluding volatile sectors like energy and food, landed at 3.1% compared to previous estimates of 3.0%. This positive data suggests a potential path for the Federal Reserve to lower interest rates after their next FOMC meeting in September. As the Fed strives for a healthy inflation rate around 2%, these results offer encouraging signs.