this post was submitted on 13 Jun 2023
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U.S. CPI Inflation Slowed to 0.1% in May; Bitcoin Rises (www.coindesk.com)
submitted 1 year ago by darkwing_duck to c/bitcoin
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tl;dr The U.S. Consumer Price Index (CPI) for May rose by 0.1%, lower than expected. Year-over-year CPI slowed to 4.0%. Bitcoin increased by nearly 1% after the report. Market participants now indicate a 79% chance of the Fed pausing rate hikes. Stock index futures are slightly higher, while Treasury yields have decreased.

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