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<p>The post <a href="https://coinpedia.org/news/may-us-cpi-ease-to-3-3-btc-price-surge-to-69k/">May US CPI Ease To 3.3%; BTC Price Surge To $69K</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The latest <a href="https://www.forexfactory.com/news/1288814-us-consumer-price-index-may-2024">Consumer Price Index (CPI) report</a> from the U.S. government shows that inflation in the U.S. stayed the same at 0.3% in May. This stable rate offers some hope for financial markets worried about rising prices.</p> 
<p>Meanwhile, the CPI, which measures the costs of goods and services across the country, didn’t change from the previous month, but it increased by 3.3% compared to a year ago.</p> 
<h2 class="wp-block-heading" id="h-us-cpi-cool-off-3-3">US CPI Cool Off 3.3%</h2> 
<p>As per the data released by the Labor Department’s Bureau of Labor Statistics (BLS), reveals that the U.S. Consumer Price Index (CPI) remained unchanged at 0.3% in May. This figure comes as a surprise to the market, which had anticipated a cooling of inflation to 0.1% for the month.</p> 
<p>However, despite this unexpected surge, the year-over-year CPI inflation cooled slightly from last month of 3.4% to 3.3% in May.</p> 
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   <p lang="en" dir="ltr">US CPI down! <br><br>Core CPI 0.2% m/m 0% y/y 3.2%<br><br>Bullish!!!!! <a href="https://t.co/P8yC8Je4Aa">pic.twitter.com/P8yC8Je4Aa</a></p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1800869398741500200?ref_src=twsrc%5Etfw">June 12, 2024</a>
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<p>Additionally, the Core CPI, which excludes food and energy prices, decreased to 0.2% in May from 0.3% the previous month. Yearly Core CPI also showed a decrease in inflation, dropping to 3.4% from 3.6% in April. Both of these decreases indicate cooling inflation, bringing bullishness into the market.</p> 
<h2 class="wp-block-heading" id="h-market-response-nbsp">Market Response&nbsp;</h2> 
<p>In response to the CPI report, the cryptocurrency market witnessed bullish momentum, particularly with Bitcoin experiencing a sudden surge in price. The leading cryptocurrency jumped from $66,800 to <a href="https://markets.coinpedia.org/bitcoin/">nearly $69,400</a>, marking a 3.8% increase within a short span.&nbsp;</p> 
<p>Additionally, Bitcoin’s trading volume reached $27.8 billion, while its market capitalization climbed to $1.36 trillion.</p>

May US CPI Ease To 3.3%; BTC Price Surge To $69K

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