US Inflation Picks Up to Three-Year High

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US inflation accelerated in May to the fastest pace in over three years, as the Iran war drove up energy prices and outstripped American pay gains. PIMCO economist Tiffany Wilding analyzed the May CPI report regarding these trends. Meanwhile, Bitcoin and Ethereum resumed their rebound following the news that inflation hit this three-year high, showing a specific market reaction to the economic data released concerning the current state of US inflation and energy costs.
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