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Crypto Market News<\/strong>: The Bureau of Labor Statistics had on Tuesday released the US Consumer Price Index (CPI)<\/a> data for the month of May 2023. The department said<\/a> that in May, the Consumer Price Index for all urban consumers increased 0.1%, seasonally adjusted, and rose 4% over the last 12 months, not seasonally adjusted. Hence, the inflation data for the month came in as expected, while the 4% annual inflation rate is the lowest in about two years.<\/p>\n The market participants had expected the CPI data to show signs of easing inflation, with prices expected to have risen 0.1%, compared to the 0.4% rise in April 2023. On the other hand, the market participants are anticipating a rate hike pause decision from the June 14, 2023 Federal Open Market Committee (FOMC) meeting.<\/p>\n <\/p>\n Also Read: XRP Lawsuit: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveal docs<\/strong><\/a><\/p>\n <\/p>\n The CPI Index, also called inflation numbers, measures the average change over time in the costs paid by urban consumers for goods and services. In the lead up to the CPI data release, the bitcoin price<\/a> saw a jump over the last 24 hours, leading it to the $26,000 range. The BTC price registered a 3% jump compared to the daily low of $25,700 level.<\/p>\n