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U.S. CPI Rose Softer Than Expected 0.1% in May, Sending Bitcoin Higher
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James Van Straten
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By James Van Straten|Edited by Stephen Alpher
Updated Jun 11, 2025, 12:46 p.m. Published Jun 11, 2025, 12:35 p.m.
- The U.S. Consumer Price Index rose just 0.1% in May, slower than the expected 0.2%.
- The core CPI came in softer than forecast as well.
- Bitcoin rose in the minutes following the news.
There was good news on the U.S. inflation front in May as both the headline and core rates of the Consumer Price Index rose less than forecast.
The CPI rose 0.1% in May, according to the Bureau of Labor Statistics. Economist forecasts had been for 0.2% and April’s pace was 0.2%.
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On a year-over-year basis, the CPI climbed 2.4% against estimates for 2.5% and April’s 2.3%
Core CPI, which strips out the volatile food and energy categories, rose 0.1% last month versus forecasts for 0.3% and 0.2% in April. Year-over-year core CPI was 2.8% versus an expected 2.9% and 2.8% in April.
Bitcoin
rose about 0.6% in the moments following the news, trading at $109,800, up 0.3% over the past 24 hours.
Despite continued uncertainty around inflation’s trajectory, the market remains confident that the Federal Reserve will begin easing policy later this year. According to the CME FedWatch Tool, traders are fully pricing in two rate cuts, with the first expected in September and the second in December. For the moment, this morning’s fresh data hasn’t changed that calculus.
A check of traditional markets finds U.S. stock index futures reversing earlier declines and now in the green by about 0.4% across the board. The 10-year Treasury yield is lower by five basis points to 4.45%.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
