Inflation in the US reached 4.1% in May, up to a maximum since April 2023, and well above the Fed’s 2% target. The consumer spending price index rose by 0.4% month-on-month, and core inflation, excluding products and energy, accelerated to 3.4% year on year. Against this background, while the current rate remains at 3.50% to 3.75%, updated regulatory forecasts indicate a high likelihood of higher borrowing costs by year-end.

The price rise was driven by energy, but consumer activity remained high. American spending has increased by 0.7% thanks to tax refunds and savings, and the labor market is showing resilience, with initial unemployment claims down to 215,000.

Cryptocoin responded to the macroeconomic news with a subdued growth: Bitcoin gained 1.1% after falling below $60,000, and ether appreciated by 1.5% to $1,644.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.