Editor's PiCK
U.S. June Consumer Price Index Up 2.7% YoY…Exceeds Wall Street Expectations
Summary
- The U.S. June Consumer Price Index (CPI) rose 2.7% year-on-year, exceeding Wall Street forecasts.
- The Core CPI, excluding food and energy, rose 2.9% year-on-year, falling short of Wall Street expectations.
- After the CPI announcement, Bitcoin (BTC) soared but then declined again, dropping 3.56%.
The U.S. Consumer Price Index (CPI) for June rose 2.7% year-on-year.
According to the U.S. Department of Labor's announcement on the 15th (local time), the June CPI rose 2.7% compared to the previous year, exceeding Wall Street's expectations (2.6%). On a month-on-month basis, CPI increased by 0.3%, in line with the forecast (2.6%, 0.3%). This is seen as tariffs beginning to be reflected in consumer prices.
Core CPI, which excludes food and energy sectors, fell short of Wall Street's expectations. Core CPI rose 2.9% year-on-year, below Wall Street's forecast of 3.0%. Month-on-month, it rose by 0.2%, also below the forecast of 0.3%. The Core CPI is an indicator that excludes the highly volatile energy and food prices and is used to gauge the underlying trend of inflation.
Following the CPI release, Bitcoin (BTC) saw a sharp surge, momentarily touching $117,466. As of 9:35 p.m., based on Binance USDT market data, Bitcoin is trading at $117,320, down 3.56% from 24 hours earlier.
Son Min
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