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Markets are rallying as consumer inflation comes in less than expected. Crypto is up significantly after suffering several bad weeks.
The consumer price index was expected to increase 2.5% from a year ago in January, according to the Dow Jones consensus, reported CNBC.
The Bureau of Labor Statistics on Friday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% on a monthly basis in January and trended down to 2.4% on a year-over-year basis. That was down slightly from 2.7% in December, wrote Fox Business.
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