Inflation Sets News 40-Year High of 9.1%, Bitcoin Fights To Hold $19,000
CPI inflation data reached a 40-year high of 9.1% in June with the largest price increases occurring in the energy sector, seeing fuel and oil rising almost 100%.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....
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AVAX and ALGO both fell by nearly 10% on Friday, following the release of the latest inflation figures in the United States. Data showed that inflation is currently at 8.6%, which is close to a 40-year high. Both AVAX and ALGO moved close to one-week lows on the news.
Avalanche (AVAX)
AVAX moved close to a one-week low on Friday, as prices fell following the release of U.S. inflation data.
Following a high of $25.29 on Thursday, AVAX/USD slipped to a low of $22.78 earlier in today’s session.
This drop took prices close to their support level of....
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Inflation data shows a 106% increase in fuel oil year-over-year with an unexpected 40-year high Consumer Price Index report of 8.6% as bitcoin dips to $29,500.