The highly awaited US Producer Price Index (PPI) data showed that inflation has come in hotter than expected at 1.8% in September, as compared to market expectations of 1.6%. This rising inflation figure, especially after the recent US CPI data, has sparked concerns in the market, over its potential impact on BTC and other crypto. Besides, the latest set of gloomy economic data has fueled debates if the US Federal Reserve would once again move with a tightened monetary policy ahead.
US PPI Comes In Hotter-Than-Expected
The latest Labor Department data showed that the US PPI inflation came in at 1.8%, up from the 1.7% level noted in August. On a month-over-month (MoM) basis, the inflation remains unchanged at 0.0%, after rising 0.2% in the prior month.
Simultaneously, the Core PPI inflation soared significantly to 2.8% last month, up from the market expectations of 2.6% and the 2.4% level of August. On an MoM basis, the Core PPI figure, which excludes the food and energy prices, came in at 0.2%, as compared to 0.3% in the previous month.
These hotter-than-anticipated inflation figures have sparked discussions in the broader financial sector, let alone the crypto market. The recent US CPI data also exceeds the market forecast, signaling a hawkish stance by the US Fed at their upcoming gathering next month.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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