Annual inflation in the US hit 9.1% in June, or more than what analysts had expected, and up from 8.6% in May. It reached the highest level in over 40 years.
In a month, prices jumped 1.3%, also more than expected. The so-called annual Core-CPI (consumer price index) – which excludes prices of food and energy - stood at 5.9%.
It's a "further blow to economic and social well-being. Highlights Fed’s worst policy mistakes in decades," Mohamed A. El-Erian, President of Queen’s College at Cambridge University, reacted.
Right after the announcement, bitcoin (BTC) dropped, sliding from USD 19,921 to USD 19,089 in an hour (at 13:34 UTC), while ethereum (ETH) moved from USD 1,090 to USD 1,024. BTC is now down over 4% in a day and almost 6% in a week, while ETH dropped almost 5% in a day and 10% in a week.
According to a Bloomberg estimate, the headline inflation number for June was expected to come in at 8.8% annually, while the so-called Core-CPI (consumer price index) – which excludes...
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