Diesel prices hit a nominal new high of $6.53 per gallon, posing a new inflation test for Bitcoin.
U.S. on-highway diesel fuel prices rose to $6.529 per gallon on September 21, a weekly increase of 24.4 cents, reaching a nominal new high, according to data from the U.S. Energy Information Administration. This has sparked concerns about freight cost inflation, potentially leading the Federal Reserve to maintain high interest rates, which would pressure assets reliant on financing conditions, such as Bitcoin. The upcoming September consumer and producer price reports will test whether rising freight costs are translating into broader inflation.
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