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Inflation Unexpectedly Reaccelerated to 8.6% in May, Hitting a Fresh 4-Decade High

Bitcoin dipped about $500 on the news, trading around the $29,500 level in the minutes following the CPI report.

Inflation rose to 8.6% in May. (Malte Mueller/Getty images)
Inflation rose to 8.6% in May. (Malte Mueller/Getty images)