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UK CPI Inflation Falls Short of Forecast, Yields Soar and Yield Curve Inverts

The UK's CPI inflation rate for April was lower than expected at 8.7%, missing the forecasted rate of 8.2%. This is a significant issue as core inflation is a major concern globally. The UK's Core CPI year over year increased to 6.8%, the highest it has been since 1992, while the month over month rate accelerated to 1.2%, surpassing the expected rate of 0.7%. As a result, yields have increased, causing a severe inversion across the yield curve. CryptoSlate's latest market report analyzes Tether's plan to purchase Bitcoin every month, which could potentially cause market volatility and put it in competition with MicroStrategy.

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