Bitcoin (BTC) Price Moves as US CPI for May Hits 2-Year High
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US May CPI rose to 4.2% year-over-year, the highest since April 2023, while Core CPI climbed to 2.9% year-over-year, a nine-month peak, with both figures matching economists' forecasts. For crypto markets this sustained inflation level is a potential headwind for token performance, DeFi lending and fundraising as it raises odds of tighter Fed policy and higher rates, though the lack of a surprise may limit immediate volatility for CEX and DEX trading activity and adoption.
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The May Consumer Price Index (CPI) report has just been released, showing that inflation in the United States increased precisely as economists had forecasted.
The figure surged to 4.2%, the highest level since April 2023. For its part, Core CPI (which excludes food and energy prices) has risen to a nine-month peak of 2.9% (again meeting expectations).
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