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  • Blockchain Timeline

US consumer inflation slows sending stocks and crypto higher

US inflation fell to 3.4% in April, in line with economist's expectations while Core CPI came at 3.6% compared to 3.8% the previous month.

Retail sales in April were flat compared to 0.4% expected with underlying measures of the report also showing spending has softened. Spending on food and energy missed expectations while the sales group which excludes building materials and motor parts also declined 0.3%.

The new data send US stock indexes and crypto assets higher as traders in futures markets added to bets that the FED will cut interest rates twice this year.


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