Topic: The growth of annual inflation in US reached 8.6% - page 3. (Read 334 times)
The cryptomarket is supposed to grow against the inflation due to its limited supply, but here the market is experiencing the downturn as the inflated currencies. The inflation keeps rising and it has come out big all of the sudden as people have started to move after a long term work from home. During those time period the food price rise didn't make a big impact. By the time the transportation too is limited and now everything is getting to be normal and the impact is getting high. It is a slow process to get solved. More countries will join the queue soon.
Annual inflation in America reached 8.6%, a record high for the past 40 years: Inflation rose 8.6% in May, highest since 1981
Monthly inflation instead of the forecasted 0.7%, reached 1%. This news caused a dump in the crypto market, bitcoin is again trading near the $29,000 mark
Quote
- The consumer price index rose 8.6% in May from a year ago, the highest increase since December 1981. Core inflation excluding food and energy rose 6%. Both were higher than expected.
- Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106.7% over the past year.
- Shelter costs, which comprise about one-third of the CPI, rose at the fastest 12-month pace in 31 years.
- The rise in inflation meant workers lost more ground in May, with real wages declining 0.6% from April and 3% on a 12-month basis.
- Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106.7% over the past year.
- Shelter costs, which comprise about one-third of the CPI, rose at the fastest 12-month pace in 31 years.
- The rise in inflation meant workers lost more ground in May, with real wages declining 0.6% from April and 3% on a 12-month basis.
Monthly inflation instead of the forecasted 0.7%, reached 1%. This news caused a dump in the crypto market, bitcoin is again trading near the $29,000 mark
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