Inflation eased to 4-year low
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Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.
The U.S. Federal Reserve in May warned that America is facing an increased risk of stagflation. Inflation data for April somewhat assuages that fear.
Inflation slowed to the lowest point in four years last month, but progress in reining it in will likely end there as higher tariffs start to push up the cost of consumer goods. The consumer price index climbed 2.
The crypto market stood at $3.4 trillion as the Consumer Price Index (CPI) in April stood at 2.3% over the last 12 months, the Bureau of Labor Statistics reported on May 13. The Federal Reserve has set an inflation target of 2%. As per Kraken's price feed, Bitcoin was trading at $103,587 at press time.