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US Inflation Rises in April, PCE Index Shows 0.4% Increase, Excluding Food and Energy by 4.7% YoY

The core personal consumption expenditures (PCE) data for April 2023 was released by the Bureau of Economic Analysis, revealing a 0.4% increase in the PCE price index and a 4.7% increase in the PCE price index excluding food and energy from one year ago. Despite the potential impact on high-risk assets like Bitcoin, the crypto market remained relatively unaffected by the inflation figures. The US Federal Reserve may consider tightening monetary policy if inflation continues to rise, as the Core PCE inflation data is a significant factor in their decision-making process for interest rates. The next Fed meeting is scheduled for June 13-14, 2023. In other news, check out this list of the top 10 Web3 games to explore in 2023.

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