Higher CPI print for March already ‘baked in’ to BTC price — Analysts
The cost of medical care, apparel, household furnishings, airline fares, and education all rose during the month of February, BLS data shows.
The latest rise in the consumer price index (CPI) was “in line with estimates,” and rising inflation has already been priced into the macroeconomic data for the March CPI print, according to market analysts at exchange-traded product (ETP) issuer 21Shares.
Shelter rose 0.2% in February, while the food sector of the CPI rose 0.4%, energy increased by 0.6%, and the index for all items, excluding food and energy, rose by 0.2%, according to the US Bureau of Labor Statistics (BLS) February CPI report.
Stephen Coltman, head of macro at 21shares, said the upcoming CPI prints place even more pressure on the Federal Open Market Committee (FOMC), the body that decides interest rate policy. He said: