⬛The annual inflation rate in the U.S. for September was 2.4%, slightly lower than the August figure. The monthly consumer price index (CPI) increased by 0.2%. Core inflation, excluding food and energy, rose to 3.3% year-over-year.
⬛However, disappointing inflation data limited the growth of unemployment claims, which jumped to 258,000, while 231,000 were expected. As a result, Bitcoin and Ethereum experienced a decline, testing important support levels.
⬛According to reports, high inflation figures undermine hopes of a 50 basis point rate cut by the Federal Reserve in November, but the probability of a 25 basis point reduction has risen to 85%. Federal Reserve Chair Jerome Powell previously announced plans to ease monetary policy to support economic growth.