In June, the U.S. inflation rate, as measured by the Consumer Price Index (CPI), decreased to 3.0% year-over-year, down from 4.0% in May, according to the Bureau of Labor Statistics (BLS). The monthly CPI increased by 0.2% in June, compared to 0.1% in May, but fell short of expectations for 0.3%.
The core CPI, which excludes volatile food and energy costs, dropped to 4.8% from 5.3% and was lower than the predicted 5.0%. Following the report, the price of bitcoin (BTC) slightly increased to $30,900, after remaining stagnant between $30,000 and $31,000 for several days.
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