The U.S. Producer Price Index (PPI) for September rose by 0.3% from August, reversing a previous 0.1% decline, driven by a significant 3.5% increase in energy prices. The year-over-year PPI maintained a 2.7% rise, consistent with August's figures. Core PPI, which excludes food and energy, saw a modest 0.1% increase, falling short of the anticipated 0.3%.
Following the release of the PPI data, Bitcoin (BTC) experienced a recovery, climbing above $87,000. The report has heightened expectations for a potential Federal Reserve rate cut in December, which could favor Bitcoin as both a risk asset and an inflation hedge.
U.S. September PPI Increases 0.3%, Bitcoin Climbs to $87,000
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