Inflation Hits Unexpected 40-Year High Of 8.6% As Bitcoin Holds $29,500 Today

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  • Inflation data for May shows a 40-year high of 8.6% for the U.S. Consumer Price Index report.
  • The highest year-over-year vector consisted of the Energy Index (34%) with fuel oil rising over 106%.
  • Month-over-month, fuel prices rose another 16% while bitcoin continues to hold $29,500.

The Bureau of Labor Statistics (BLS) released the U.S. Consumer Price Index (CPI) inflation data for the month of May detailing a 40-year high of 8.6% while bitcoin holds $29,500 at press time.

April’s inflation data also came in hot at 8.3% and this rising trend shows no signs of slowing down. The last time the U.S. experienced consistently high inflation reports approaching double digits was 1981.

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