US Inflation Holds at 3.4%: Will Bitcoin Dodge a September Fed Hike?

The Bureau of Labor Statistics released inflation data showing headline prices held steady at 3.4% annually in July, while core inflation—excluding food and energy—cooled to 2.5% from the prior month’s 2.6%. Month-over-month, headline prices rose 0.1%, reversing a steeper 0.4% decline recorded in June that reflected falling energy costs. Core prices increased 0.2% on the monthly basis. Both the headline and core annual figures matched market expectations ahead of the release.