• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, August 10, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Inflation Data Hits 40-Year High Of 8.6% As Bitcoin Dips

June 10, 2022
in Bitcoin
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Related articles

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

August 10, 2022

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022

  • Inflation data for May shows a 40-year high of 8.6% for the U.S. Consumer Price Index report.
  • The highest year-over-year vector consisted of the Energy Index (34%) with fuel oil rising over 106%.
  • Month-over-month, fuel prices rose another 16% while bitcoin continues to hold $29,500.

The Bureau of Labor Statistics (BLS) released the U.S. Consumer Price Index (CPI) inflation data for the month of May detailing a 40-year high of 8.6% while bitcoin holds $29,500 at press time.

April’s inflation data also came in hot at 8.3% and this rising trend shows no signs of slowing down. The last time the U.S. experienced consistently high inflation reports approaching double digits was 1981.

The data becomes much worse as one views inflation through a yearly lens. For the unadjusted 12-month inflation data, or a year-over-year perspective, the highest price increase is a 106.7% rise in the cost of fuel oil. This is followed by a 50% increase to energy commodities and a 48% for gasoline. Notably, the entire Energy Index has gone up 34.6%.

Among the highest vectors of month-over-month inflated prices, fuel is by far the worst at 16%. Piped gas services come in second with a 8% increase over April’s reported numbers. Then, we have energy commodities at 4.5%. Considering the yearly inflation goal was 2% prior to the pandemic, these numbers are outrageously high for only being weeks apart from another.

As inflation continues to run rampant from the loose monetary policies executed by the U.S. financial authorities, bitcoin’s price is down 16% from its high of June, 2021, which was $35,127.

Credit: Source link

ShareTweetSendPinShare
Previous Post

What’s The Difference Between The Two Terra Tokens?

Next Post

Are bearish sings wearing off for SHIB?

Related Posts

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

August 10, 2022

Uniswap price at the current moment has displayed a downward movement on its chart. The coin lost the $9 price...

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022

On Tuesday, the bitcoin mining company Cleanspark announced it acquired a plug-in-ready bitcoin mining facility that is scalable to 86...

What The Impending “Triple Halvening” Means For The Future Of Ethereum

August 9, 2022

The Ethereum Merge draws closer with each passing day, and the anticipation in the market is palpable. There are a...

Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon?

August 9, 2022

Data shows around 300k in ETHUSD long positions have been closed on the Bitfinex Ethereum futures market, something that could...

These Are the Crypto Economy’s 5 Most Expensive Assets per Unit in August 2022 – Markets and Prices Bitcoin News

August 9, 2022

On July 18, 2021, Bitcoin.com News researched the top five most expensive crypto assets and at that time there were...

Load More
Next Post

Are bearish sings wearing off for SHIB?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance Launches Crypto Prepaid Card in Argentina through Partnership with Mastercard

August 5, 2022

Solana’s Investigation Indicates Wallet Exploit Tied to Slope Mobile App – Altcoins Bitcoin News

August 4, 2022

UK Parliamentary Group launches inquiry for further regulation of growing crypto sector

August 4, 2022

Nimbus Platform Launched the First Ever Finan…

August 4, 2022

Magnificent Start For Uniglo (GLO) Presale

August 4, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?
  • Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News
  • The future of social media and protecting user data in web3 w/ Lens Protocol and the Aave companies

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$22,871.00-4.34%
  • ethereumEthereum(ETH)$1,672.59-5.91%
  • tetherTether(USDT)$1.00-0.37%
  • usd-coinUSD Coin(USDC)$1.00-0.26%
  • binancecoinBNB(BNB)$316.59-2.76%
  • Binance USDBinance USD(BUSD)$1.00-0.19%
  • rippleXRP(XRP)$0.361109-4.83%
  • cardanoCardano(ADA)$0.51-5.14%
  • SolanaSolana(SOL)$39.35-7.71%
  • polkadotPolkadot(DOT)$8.66-6.23%
  • dogecoinDogecoin(DOGE)$0.068244-3.81%
  • AvalancheAvalanche(AVAX)$27.64-2.33%
  • daiDai(DAI)$1.00-0.23%
  • Lido Staked EtherLido Staked Ether(STETH)$1,614.26-6.21%
  • matic-networkPolygon(MATIC)$0.88-5.32%
  • tronTRON(TRX)$0.068387-3.18%
  • Shiba InuShiba Inu(SHIB)$0.000011-13.31%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,911.00-4.38%
  • ethereum-classicEthereum Classic(ETC)$37.03-2.76%
  • leo-tokenLEO Token(LEO)$4.942.58%
  • OKBOKB(OKB)$17.95-2.54%
  • litecoinLitecoin(LTC)$58.48-6.90%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.34-2.69%
  • FTXFTX(FTT)$29.34-6.91%
  • chainlinkChainlink(LINK)$8.43-3.53%
  • UniswapUniswap(UNI)$8.37-5.39%
  • CronosCronos(CRO)$0.144132-5.10%
  • cosmosCosmos Hub(ATOM)$10.83-9.49%
  • FlowFlow(FLOW)$2.94-4.68%
  • stellarStellar(XLM)$0.120552-0.58%
  • moneroMonero(XMR)$158.23-6.59%
  • bitcoin-cashBitcoin Cash(BCH)$132.73-7.91%
  • algorandAlgorand(ALGO)$0.341657-10.03%
  • vechainVeChain(VET)$0.029661-6.88%
  • ApeCoinApeCoin(APE)$6.85-7.50%
  • filecoinFilecoin(FIL)$8.03-8.70%
  • Internet ComputerInternet Computer(ICP)$7.75-6.93%
  • ChainChain(XCN)$0.0895121.85%
  • decentralandDecentraland(MANA)$1.02-7.55%
  • HederaHedera(HBAR)$0.074178-7.57%
  • The SandboxThe Sandbox(SAND)$1.28-6.47%
  • QuantQuant(QNT)$120.87-6.54%
  • tezosTezos(XTZ)$1.77-7.33%
  • Axie InfinityAxie Infinity(AXS)$17.39-7.02%
  • theta-tokenTheta Network(THETA)$1.51-7.56%
  • ElrondElrond(EGLD)$61.15-8.76%
  • FraxFrax(FRAX)$0.98-2.36%
  • AaveAave(AAVE)$97.15-6.08%
  • Lido DAOLido DAO(LDO)$2.23-4.13%
  • true-usdTrueUSD(TUSD)$1.00-0.22%