Inflation slows with headline CPI at +2.3% Y/Y, lowest since Feb 2021. Click for more on the data and what it may mean for the markets.

Broken down by category, some of the sectors most impacted by tariffs saw a price decline from last month, including apparel and used cars and trucks.

The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.

Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

News that the U.S. and China have drastically reduced reciprocal tariffs for 90 days as they continue trade talks has already put a dent in rate-cut expectations.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.

The crypto market stood at $3.4 trillion as the Consumer Price Index (CPI) in April stood at 2.3% over the last 12 months, the Bureau of Labor Statistics reported on May 13. The Federal Reserve has set an inflation target of 2%. As per Kraken's price feed, Bitcoin was trading at $103,587 at press time.

CPI reveals easing inflation at 0.221% with core at 0.237%. Recession odds drop; stay updated on key macro data shaping Fed rate decisions. Click for more.