The US Bureau of Labor Statistics has released the Consumer Price Index data for March 2023, which shows a rise of 0.1% on a seasonally adjusted basis, compared to an increase of 0.4% in February. The index for shelter contributed the most to the overall CPI rise, offsetting the decline in the energy index. The inflation data is important for the US Federal Reserve as it aims to contain the rise in prices. The crypto market initially showed little response to the data, but later saw a 1% jump. The Bitcoin price continues to trade at $30,337 after crossing the crucial $30,000 milestone on Tuesday for the first time in around 10 months.
(By Anvesh Reddy)
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