US CPI Report Surprises with 2.4% Inflation Rate, Impacting Bitcoin's Consolidation Phase

The latest report on the US Consumer Price Index (CPI) has surprised many with an inflation rate of 2.4%. This figure is higher than what experts expected.

Before the report came out, analysts thought inflation would be around 2.3%. They hoped this would help Bitcoin (BTC) break out of its recent consolidation phase. But that didn’t happen.

The CPI for September rose by 0.1% above expectations. While this is more than what was predicted, it’s still lower than August’s rate of 2.5%.

This situation is still unfolding, and we’ll keep you updated as more information becomes available.