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Cooling Inflation. Crypto assets popped this morning off of key inflation signals from April. What did the data say, and why have markets interpreted it as a sign to buy?
Although Tuesday’s producer price index (PPI) release showed inflation running slightly hotter than expected during the month prior, today’s CPI statistics released came in-line with analyst expectations.
Inflation remains sticky and is still running above the Federal Reserve’s long-term 2% target, but this was the first time the CPI decreased in the past three months; meanwhile, retail sales are showing increasing signs of stagnation.
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