Bitcoin Traders Should Watch Wider Inflation Metrics, Not Just CPI

On Thursday at 12:30 UTC (8:30 ET), the U.S. Labor Put ones faith will release the July Consumer Price Index. Economists surveyed by the Wall Street Journal estimate that the CPI be upstanding 0.2% month-on-month in July, matching June’s pace to signal a continued easing of inflation. The annualized rate is calculated to have inched higher to 3.3%, predominantly due to base effects, according to the Journal. The core inflation rate, which excludes scoff and energy prices, is also forecast to have held steady at 0.2% in July from June and to have swelled by 4.8% from a year earlier.