As of the end of November, annual inflation in the U.S. was 2.7%, compared to 2.6% a month ago. The figure matched market expectations of 2.7%.
On a monthly basis, the consumer price index rose by 0.3%, compared to 0.2% in October. The consensus forecast suggested an increase of 0.3%.
The index excluding food and energy prices rose by 0.3% compared to the previous month and by 3.3% year-on-year to November of last year. In the previous report, the values were 0.3% and 3.3%, respectively. Analysts expected the pace of October to be maintained.
Prices for services excluding housing and energy increased by 0.34% after rising 0.31% in October, 0.4% in September, 0.33% in August, 0.21% in July, and decreasing by 0.05% and 0.04% in May-June. The Fed noted the importance of this metric when analyzing the trajectory of inflation.
According to Bloomberg, the report indicates a halt in disinflation. The pace of price growth still significantly exceeds the Fed's target level, although it is substantially lower than in 2021 and 2022, when there was a huge increase in the cost of living.
However, RJ O'Brien Managing Director John Brady is confident that monetary authorities will lower the key rate in December, as rhetoric and the projected trajectory have 'anchored such expectations'.
The release of macro statistics caused volatile fluctuations in the range of $98,200-98,800 for Bitcoin and $3,720-3,750 for Ethereum.
Investors have slightly increased the chances of continued easing by the Fed at the meeting on December 17-18. The swap market indicates a 92% probability of a 25 basis point move.
Recall that CryptoQuant warned of a possible halt in the rally of digital gold.
Earlier, Real Vision Chief Analyst Jamie Coutts suggested that Bitcoin could enter a correction in two to three months.
