Ethereum Retreats to $2,522.57 After $2,600 Spike Ahead of Fed Meeting

Ethereum retreated from its spike above $2,600, with EL7's 00:00 UTC snapshot on September 12, 2026 recording a price of $2,522.57 and a low of $2,508.64. The figures confirm that momentum faded after the advance, but they do not establish that inflation data caused the reversal.

The US Bureau of Labor Statistics said the Consumer Price Index rose 0.4% month over month in August after increasing 0.1% in July, while annual inflation held at 3.4%. Both headline readings matched forecasts from economists polled by Reuters.

Core CPI, which excludes food and energy, rose 0.3% during the month against a 0.2% forecast. At the same time, its annual rate slowed to 2.4% from 2.5%, leaving a report that combined firmer monthly pressure with slight annual moderation.

Energy contributed materially to the headline acceleration: gasoline prices rose 3.9% and the energy index increased 2.1% in August, with gasoline accounting for more than one-third of the monthly headline gain.

Contemporaneous market coverage shows Ethereum initially climbed above $2,600 after the CPI release before retreating later. The chronology therefore does not support describing the decline as an immediate adverse reaction to the data.

Attention now turns to the Federal Open Market Committee meeting on September 15-16, 2026. The Fed held its target range at 3.50%-3.75% in July, with 3 members favoring a 25-basis-point increase, while Kevin Warsh chairs both the Federal Reserve Board and the committee.