๐จ๐ US PPI Inflation Eases to 2.2%, Bitcoin Price Rally Imminent?
๐ US PPI Inflation Drops, Sparks Optimism Amid Fedโs Dovish Stance
๐ณ The latest US PPI data revealed significant inflation cooling in May, marking its largest decline since October 2023.
๐ Inflation decreased to -0.2% in May, against market expectations of a 0.1% increase. The data has fueled optimism in the market amidst a dovish stance by the Federal Reserve.
๐ The Fed Chairโs latest remarks signaled only one rate cut this year. The Core PPI, excluding food, energy, and trade services, remained unchanged from the previous month.
๐ฐ Annual PPI inflation cooled to 2.2%, against expectations of 2.5%. While BTC retreated 2.53%, market experts anticipate a potential Bitcoin rally ahead.
