U.S. consumer inflation data for July came in largely in line with expectations, with the unadjusted consumer price index rising 3.4% year on year, unchanged from forecasts and below the previous 3.50% reading. Underlying price pressures also softened: unadjusted core CPI, which excludes food and energy, rose 2.5% from a year earlier versus 2.60% previously, while seasonally adjusted core CPI increased 0.2% month on month after a 0.00% reading in the prior month. Inflation figures are closely watched across crypto and broader financial markets because they can influence expectations for Federal Reserve policy and risk appetite.