finance
U.S. CPI Rises 8% Year-Over-Year in April, Exceeding Forecasts
The Consumer Price Index rose 0.6% in April and 3.8% year-over-year, exceeding forecasts and dashing hopes for near-term Federal Reserve rate cuts. Bitcoin declined 1.2% over 24 hours and was trading at $80,621.04 shortly after the report. Markets continue to price in no rate cut at the June 17 meeting.
May 12, 8:47 AM·1m read1 source
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U.S. inflation data came in hotter than expected on May 12, 2026. 8% year-over-year, according to the Bureau of Labor Statistics. 3% increase.
2% gain. 3%. 6%.
The hotter-than-expected readings reinforced expectations that the Federal Reserve will keep interest rates steady at 350-375 basis points at its June 17 meeting and likely through the end of the year. Markets continue to price in no Federal Reserve rate cuts for the June 17 meeting.
Ahead of the CPI data, markets were pricing in a 98% probability that the Federal Reserve would leave interest rates unchanged at its March meeting, according to the CME Fed Watch tool.
Bitcoin was trading at $80,814 following the news and later at $80,600 following the CPI report. 04 traded at $80,700 following the report. 2% over the past 24 hours.
U.S. 44%. WTI crude oil rose 3% on the day to $101, posing a threat to the markets. Kevin Warsh is set to be confirmed as the next Federal Reserve Chair this week, as he is expected to take over from Jerome Powell on May 15.
CoinDesk reported that the April CPI figures poured cold water on Federal Reserve rate cut hopes. m.
