40-Year High Inflation Surged Another 100bps in June: Tailwind for Bitcoin?

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U.S. spenders got a brief respite from rising prices in May. But last month, a torrent of new inflationary pressures on consumer prices moved the Fed’s preferred inflation barometer up to a 40-year high. The personal consumption expenditures price index tracking the 12-month rate of inflation rose to 6.8% in June. That’s the highest U.S. dollar inflation consumers have seen since the Volcker regime in 1982. Growing inflation through June markedly exceeded Wall Street forecasts. Moreo ...

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