Inflation Data Ignites Stock Rally, BTC Price Holds Steady

The U.S. consumer price index (CPI) for August rose 3.7% from a year ago and a seasonally adjusted 0.6% for the month, with energy prices being the main driver. However, experts believe that the spike in gasoline prices is likely temporary and will eventually decrease. Excluding volatile energy prices, core inflation was up 0.3%, mainly due to higher shelter costs. Despite the higher-than-expected numbers, economists believe that the overall trend is still headed in the right direction, and markets reacted calmly to the report.