#cpi

The US CPI data for October came in at 3.2% Year on Year. 🇺🇸

Much lower than expectations! 🚀

The Consumer Price Index (CPI) is an important economic indicator that measures the average change in prices paid by consumers for a basket of goods and services over time.

Central banks often use CPI data to make decisions regarding monetary policy, such as interest rate adjustments. Changes in monetary policy can impact the value of fiat currencies and, consequently, affect the relative attractiveness of cryptocurrencies.

Inflationary pressures can drive adoption and awareness of cryptocurrencies as an alternative form of currency. As more people become aware of the potential benefits of cryptocurrencies in preserving value, it may lead to increased demand and adoption in the crypto market.