Crypto markets surge after better-than-expected US inflation figures

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City AM

By Darren Parkin After a slower start to the week, the crypto markets burst into life yesterday following the announcement of lower-than-expected US inflation figures. The Consumer Price Index rose 8.5 per cent in the year through July, the Bureau of Labor Statistics said Wednesday – a significant drop in the headline inflation rate following the 9.1 per cent gain in the year through June. The price of Bitcoin jumped two per cent to about $23,500 in the minutes after the inflation data for July was released, and sat at around $24,600 this morning – up more than six per cent since this time yes…

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