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US PPI Today: Will Another Inflation Shock Force a Fed Rate Hike and Hit Bitcoin?
The US Bureau of Labor Statistics is expected to release the latest Producer Price Index (PPI) data today. This report could influence expectations for the Federal Reserve's interest rate decision on October 28. The PPI report is set to reveal changes in the prices that businesses receive for their goods and services. The measure shows whether the production costs are rising or falling. If the data reveals a hotter-than-expected reading, it may increase inflationary pressure, forcing the central bank to push the rate higher. Bitcoin can also feel the pressure if inflation fears rise.