Bitcoin, Ethereum Resume Rebound as Inflation Hits 3-Year High
Consumer prices rose at their fastest annual pace in three years, inflation numbers released on Wednesday showed, supporting expectations that the Federal Reserve will maintain a restrictive policy stance and potentially put further pressure on crypto prices. The Consumer Price Index rose 4.2% in May from a year earlier, the U.S. Bureau of Labor Statistics said on Wednesday. The increase, which was in line with economists’ expectations, marked the third straight month in which inflation’s annual pace accelerated.