CryptocurrencyBitcoin Price Nears $41,000 as U.S. Inflation Jumps to...

Bitcoin Price Nears $41,000 as U.S. Inflation Jumps to 8.5%

  • U.S. inflation hits new 40-year record at 8.5%.
  • Bitcoin traded green above $40,500 as the index reading came above market expectations.
  • Gasoline prices increased by 18.3%, while energy rose 32% over the last year.

Bitcoin has been holding on above the $40,000 mark as U.S. inflation rose to yet another 40-year high of 8.5%, according to data released by the U.S. Bureau of Labor Statistics (BLS) Tuesday morning.

Inflation numbers for last month, scored by the Consumer Price Index (CPI), denoted the biggest annual jump in prices since 1981. The 8.5% inflation rate came above market expectations and surpassed the 8.4% level last seen in January 1982.

Original Source Link


Please enter your comment!
Please enter your name here

Latest News

Arrow Electronics Hosts Cycling Challenge To Raise Funds for Martin House Children’s Hospice

For the second year in a row, Arrow Electronics employees in the United Kingdom raised funds for Martin...

Another Trump Senate Candidate Has Been Condemned By The People Who Knew Him Best

Arizona Republican Senate candidate Blake Masters has been condemned by 75 of his classmates, teachers,...

A metal ion bath may make fibers stronger than spider silk

Super strong artificial silk? That’s so metal. Giving revamped silkworm silk a metallic bath may make the strands both...

Total Flood And Wind Losses From Hurricane Ian Range From $41 Billion To $70 Billion

CoreLogic, a global property data and analytics provider, today announced its updated and final damage estimates for Hurricane...

Mindy Kaling Voices The Scooby-Doo Character In A New HBO Max Adult Animated Series

The trailer begins with Velma typing on her phone (and I quote from her screen): "Dear HBO Max,...

Must Read

John Oliver Destroys Trickle Down Economics And Liz Truss

John Oliver took apart the British trickle-down tax...

Brickbat: Out of Gas

The California Air Resources Board (CARB) has voted...
- Advertisement -

You might also likeRELATED
Recommended to you