US CPI Rises By 3.2%, Will It Boost Gains In The Crypto Market?

The U.S. Labor Department has released the much-awaited U.S. Consumer Price Index (CPI) data for October, which showed that the U.S. inflation rose 3.2% at an annual rate, as compared to the market anticipation of a 3.3% surge. Meanwhile, the decline in the U.S. CPI in October, after advancing at a pace of 3.7% in September, suggested that the inflation is cooling due to the aggressive stance of the U.S. Federal Reserve.