US CPI Report Falls to 3%, Lowest Inflation Rate Since March 2021

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In June, the U.S. inflation rate, measured by the Consumer Price Index (CPI), decreased to 3.0% compared to 4.0% in May, slightly below the expected 3.1%. On a monthly basis, the CPI rose by 0.2% in June, up from 0.1% in May but lower than the anticipated 0.3%. The core CPI, which excludes volatile food and energy costs, declined to 4.8% from 5.3% previously, below the forecasted 5.0%. Following the release, the price of Bitcoin briefly increased to $30,900 but later dropped back to just under $30,800.