Crypto Market Awaits US CPI Next Week, Here’s What to Expect

The crypto market is once again gearing up to enter a crucial week, with a flurry of macroeconomic developments in focus. For context, the US CPI and PPI inflation data are scheduled for next week, which would provide insights into the potential next move of the US Federal Reserve.

However, the market is anticipating the US Fed to keep interest rates unchanged at its October meeting. Despite that, the latest US FOMC minutes showed that the central bank officials might consider another rate hike this year, which has fueled discussions among market participants.

Crypto Market Awaits US CPI Data, Here’s All

Next week would be crucial for the broader financial sector, let alone the crypto market. The US CPI and PPI inflation data, which the US Fed often considers to gauge inflationary pressures, are scheduled to be released next week.

The US CPI, scheduled for Wednesday, October 14, is expected to come in at 0.6% on a monthly basis for September, as compared to 0.4% in the prior month. On a year-over-year (YoY) basis, the inflation data is expected to come in at 3.7%, up from 3.4% in the prior month’s reading.

The Core CPI, which excludes food and energy prices, is expected to come in at 0.2% on a monthly basis and 2.5% on a YoY basis. The Core CPI readings for August were recorded at 0.3% and 2.4%, respectively.