The consumer price index data for June 2022 is out and their numbers are not pretty, as expected. While the consensus expected annual inflation of 8.8%, the CPI for collective items is up 9.1% at the time of writing.
According to the US Bureau of Labor Statistics, the consumer price index increased by 1.3% seasonally, for a total of 9.1% over the past 12 months.
The data has set the wheels in motion as Bitcoin is currently facing market volatility.
This story breaks and will be updated in the next hour.