The U.S. Consumer Price Index was flat in May, beating economist forecasts for a 0.1% rise and down from 0.3% in April.
On a year-over-year basis, CPI was up 3.3%, compared to analyst forecasts and the previous month's reading at 3.4%. The core CPI, which excludes food and energy costs, rose 0.2% in May, better than forecasts for a 0.3% rise and versus 0.3% in April.. Year-over-year, core CPI rose 3.4% against expectations for 3.5% and April's 3.6%..
Contrasting the U.S. expectations, several key central banks globally have already started to lower benchmark rates with the European Central Bank and Bank of Canada cutting rates last week, which helped to propel the U.S. dollar index to a one-month high. Investors will also watch closely the Fed's"dot plot" to be released later today of the Federal Market Open Committee members' interest rate projection, which could move asset prices.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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Source: CNBC - 🏆 12. / 72 Read more »