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The consumer price index<\/a> (CPI) numbers came in on the 10th of August. Many were surprised by the favorable results. This led to a positive development in the crypto and stock markets. However, founder and director of the Trends Research Institute, Gerald Celente, thinks there is more to this than meets the eye. <\/p>\n In a YouTube live stream<\/a>, Celente alleges that the game is \u201crigged.\u201d Celente claims that the 8.5% inflation<\/a> rate, with interest rates at 2.25 or 2.50 basis points, is incorrect. In fact, he believes that the true number is close to 17%. Celente cited data available on John Williams\u2019 Shadow Stats. The website offers alternative data to the official economic numbers. <\/p>\n Although the stock and crypto markets reacted<\/a> positively to the official numbers, Celente did not budge. <\/p>\n While touching upon gas prices going down, Celente says that grocery prices went up 13.1% in July, compared to a year ago. He stated,<\/p>\n \u201cwages didn\u2019t go up 13% (\u2026) so eat gas and blow it out your a**.\u201d\u00a0 <\/p>\n<\/blockquote>\n Celente believes that the inflation and interest rate numbers were artificially propped up. He believes that the US government fuelled the inflation numbers. Moreover, he alleges that a zero interest rate policy and over $6 trillion were dumped to artificially pump the numbers. <\/p>\n Celente also compared the US numbers to that of other countries such as Argentina, which witnessed a 71% inflation rate in July. The UK, on the other hand, recorded a 13% inflation rate for July. <\/p>\n\n
How did the CPI numbers affect the crypto market?<\/h3>\n