The post US CPI Inflation Rises to 2.9%, How Will Bitcoin Price Move? appeared on BitcoinEthereumNews.com. US CPI inflation in the United States comes in at 2.9%, as it rises 0.4% in August, after remaining at 2.7% in June and July. However, the U.S. Federal Reserve will resume interest rate cuts next week after the latest jobs data signaled a weaker labor market in the United States. Meanwhile, the Trump administration pushes for larger Fed rate cuts after PPI inflation cooled significantly. Bitcoin price slightly rebounded on Thursday, but traders braced for uncertainty, seasonal weakness, and options expiry. Whereas, Ethereum price holds above $4,400 after the key CPI release. US CPI Inflation Comes in Higher-Than-Expected at 2.9% On September 11, the U.S. Bureau of Labor Statistics released the August Consumer Price Index (CPI) inflation data. The data prompts the Federal Reserve to resume rate cuts. US CPI Data | Source: InvestingCom The US CPI inflation comes in at 0.4% month-over-month (MoM) in August, above economists’ estimate of 0.3%, but down from 0.2% in the previous month. The headline CPI inflation increased to 2.9%, after 2.7% in July. Whereas the Core CPI, excluding the food and energy prices, rises 0.3%, the same as in the prior month. The annual core CPI remains steady at 3.1%, as estimated by economists. Wall Street giants such as JPMorgan, Bank of America, and Goldman Sachs expected CPI to rise to 0.32%, holding the 12-month rate steady at 3.1%. Goldman Sachs, Citadel Securities, and Pantheon Macroeconomics gave the highest estimate of 0.36%. Moreover, they estimated the headline CPI to come in at 0.36%, which would print annual CPI higher at 2.9%. At the time of writing, the CME FedWatch showed more than 92% probability of a Fed rate cut by 25 bps on September 17. Moreover, traders also expect the odds of three rate cuts this year. At the time of writing, the US… The post US CPI Inflation Rises to 2.9%, How Will Bitcoin Price Move? appeared on BitcoinEthereumNews.com. US CPI inflation in the United States comes in at 2.9%, as it rises 0.4% in August, after remaining at 2.7% in June and July. However, the U.S. Federal Reserve will resume interest rate cuts next week after the latest jobs data signaled a weaker labor market in the United States. Meanwhile, the Trump administration pushes for larger Fed rate cuts after PPI inflation cooled significantly. Bitcoin price slightly rebounded on Thursday, but traders braced for uncertainty, seasonal weakness, and options expiry. Whereas, Ethereum price holds above $4,400 after the key CPI release. US CPI Inflation Comes in Higher-Than-Expected at 2.9% On September 11, the U.S. Bureau of Labor Statistics released the August Consumer Price Index (CPI) inflation data. The data prompts the Federal Reserve to resume rate cuts. US CPI Data | Source: InvestingCom The US CPI inflation comes in at 0.4% month-over-month (MoM) in August, above economists’ estimate of 0.3%, but down from 0.2% in the previous month. The headline CPI inflation increased to 2.9%, after 2.7% in July. Whereas the Core CPI, excluding the food and energy prices, rises 0.3%, the same as in the prior month. The annual core CPI remains steady at 3.1%, as estimated by economists. Wall Street giants such as JPMorgan, Bank of America, and Goldman Sachs expected CPI to rise to 0.32%, holding the 12-month rate steady at 3.1%. Goldman Sachs, Citadel Securities, and Pantheon Macroeconomics gave the highest estimate of 0.36%. Moreover, they estimated the headline CPI to come in at 0.36%, which would print annual CPI higher at 2.9%. At the time of writing, the CME FedWatch showed more than 92% probability of a Fed rate cut by 25 bps on September 17. Moreover, traders also expect the odds of three rate cuts this year. At the time of writing, the US…