In April, US inflation slightly receded to a 3.4% annual rate, below the previous month's level. Despite efforts by the Federal Reserve to curb inflation to 2%, price increases have remained persistently high, complicating potential rate adjustments.
Economists anticipate a gradual easing of inflation pressures this quarter, as prices are expected to move closer to the targeted 2% mark. The focus is on core inflation, excluding volatile food and energy prices, to gauge the true inflation trend essential for Federal Reserve decisions.
The latest data indicates a positive market response, with Bitcoin surging to $63,700 following the report release, amidst lower-than-expected CPI figures.
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