US Consumer Prices Rise Faster Than Expected, Core Rate Disappoints

CORE rise Us 2024-03-12 37
The US Consumer Price Index exceeded expectations in February, with a year-over-year increase of 3.2%, compared to estimates of 3.1% and January's 3.1%. The core rate, which excludes food and energy costs, also rose more than expected, reaching 3.8% against estimates of 3.7%. Despite the hawkish change to monetary policy outlook, Bitcoin has continued to rally, reaching a new record high above $70,000 due to high demand from spot ETFs. Traditional markets experienced only modest selloffs in US stock index futures and bonds, and a slight rally in the dollar, while gold remains near a record high at $2,180 per ounce.