June CPI Inflation Drop To 3% Indicates A Cooling Trend, Bitcoin Price Rally

The latest data from the U.S. Bureau of Labor Statistics reveals that June's Consumer Price Index (CPI) inflation rate has fallen to 3.0%

The U.S. Bureau of Labor Statistics recently announced that June's Consumer Price Index (CPI) inflation rate has fallen to 3.0% ) Inflation fell to 3.0%, below expectations of 3.1%. The decline marks the 39th consecutive month that inflation has been at or above 3% and the third consecutive month that CPI inflation has fallen, signaling a possible shift in the economic landscape.

CPI inflation rate fell to 3% in June

US CPI inflation rate slowed to 3% in June, down from 3.3% in the previous May. The decline suggests that inflation trends over the past year are cooling.

Latest news: CPI inflation fell to 3.0% in June, below expectations of 3.1%.

Core CPI inflation fell to 3.3%, below expectations of 3.4%.

This marks the 39th consecutive month that inflation has been at or above 3%.

This is also the third consecutive month that the CPI inflation rate has declined.

However, on a month-on-month basis, CPI inflation edged up 0.1%, having been unchanged from April to May. This small increase was in line with market expectations and not surprising. The cooling in inflation on a 12-month basis has generated positive sentiment in broader financial markets, including the cryptocurrency space.

Core CPI inflation fell to 3.3%

In addition to overall CPI, core CPI inflation, which excludes volatile items such as food and energy, also fell. Core CPI inflation fell to 3.3%, compared with expectations for 3.4%. This further highlights the breadth of the recent decline in inflation.

Despite the recent decline, it’s worth noting that this marks the 39th consecutive month that inflation has been at or above 3%. This prolonged period of high inflation is a major concern for economists, policymakers and consumers, affecting everything from purchasing power to monetary policy decisions.

Downward trend in inflation

The June data marks the third consecutive month of falling CPI inflation. This continued downward trend may indicate that previous measures to control inflation are beginning to take effect. If this trend continues, it could indicate a more stable economic environment in the coming months.

Bitcoin Price Rising

Bitcoin price rose 2% following the CPI data and is currently trading at $58,859. Bullish sentiment is high, with QCP noting that BTC futures swap points have rebounded from lows of 10%. This rally occurs when traders close their short-term futures positions at a profit on their underlying trades.

This bullish sentiment suggests yields could rise even higher, possibly over 15%. Given the current positive market momentum, Bitcoin could reach $60,000 soon.

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