Inflation Sets News 40-Year High of 9.1%, Bitcoin Fights To Hold $19,000 Today

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  • CPI inflation data for the month of June rose to a 40-year high of 9.1%.
  • The highest price increases occurred in the energy sector with fuel and oil prices rising over 98%.
  • Bitcoin struggles to hold $19,000 at press time, down 35% from last month’s $29,500.

The Bureau of Labor Statistics (BLS) released U.S. Consumer Price Index (CPI) inflation data for the month of June showcasing a new 40-year high of 9.1% as bitcoin struggles to hold $19,000 at the time of writing.

Last month, CPI data breached previous records with a then 40-year high of 8.6% while bitcoin was trying to hold its $29,000 support. Since June’s report bitcoin has fallen to current levels representing a 35% decrease while inflation has continued to run rampant.

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