Bitcoin Wobbles as Inflation Dragon Roars, Fed Wizards Scratch Heads

According to the U.S. Bureau of Labor Statistics-those merry makers of charts and graphs-the Producer Price Index rose 1.1% in May. Wall Street was expecting a modest 0.6%, but no, the PPI had other ideas. Annual producer inflation hit 6.5%, outpacing the 6.4% analysts had their quills poised for. Core PPI, which ignores the whims of food and energy costs, also jumped 0.8%, double the forecast. It’s like the economy decided to throw a surprise party, and no one’s in the mood to celebrate.



