The crypto market has seen its most extensive greens after a long time of the bearish trend in the market. The event followed the positive report on CPI (Consumer Price Index) given by the U.S. Bureau of Labor Statistics in July. This announcement became the major push on the prices of Bitcoin and Ethereum.
The CPI as of July dropped lower than the anticipated 8.5%, according to past reports. However, this doesn’t seem to contribute positively to potential inflation. To this effect, experts are now expressing concern about what they consider sticky inflation.
The Managing Principal at Enduring Investments LLC, Michael Ashton, has revealed what he thought to be the reason for the reduced CPI.
According to Ashton, the significant factors that contributed to the reduced CPI were flexible items. He stated that some examples of such flexible items are apparel and airfare.
This, however, will not affect some sticky areas of the economy, he added. For example, the prices of certain sticky...
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