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Crypto market eyes recovery ahead of key US inflation data release
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Growing inflation has become a mounting concern for nations around the world, especially the United States.
The U.S. has seen one of the sharpest rises in consumer inflation over the past year. Lawmakers around the globe have claimed that they didn’t see the inflation coming, but people often draw their attention towards the seeming unrestricted money printing spree throughout the pandemic.
The U.S. has printed 35% of the total U.S. dollar in circulation in 2021 alone which has played a key factor in record-breaking inflation. Market pundits expect a 6% rise in the consumer price index (CPI) in November, which would be the highest in four decades.
Statistics on the CPI are scheduled to release on Dec. 10.
The Biden administration has said
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