Inflation Hits Unexpected 40-Year High Of 8.6% As Bitcoin Holds $29,500

  • Inflation data for May shows a 40-year high of 8.6% for the U.S. Consumer Price Index report.
  • The highest year-over-year vector consisted of the Energy Index (34%) with fuel oil rising over 106%.
  • Month-over-month, fuel prices rose another 16% while bitcoin continues to hold $29,500.

The Bureau of Labor Statistics (BLS) released the U.S. Consumer Price Index (CPI) inflation data for the month of May detailing a 40-year high of 8.6% while bitcoin holds $29,500 at press time.

April’s inflation data also came in hot at 8.3% and this rising trend shows no signs of slowing down. The last time the U.S. experienced consistently high inflation reports approaching double digits was 1981.

high of June, 2021, which was $35,127.

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