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US inflation has reached an expected 7% in December according to the latest data by the US Bureau of Labour Statistics. It said:
“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in December on a seasonally adjusted basis after rising 0.8 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment.”
That’s roughly in line with what was expected for the month, with bitcoin rising to nearly $44,000 following the official release.