CPI stands for Consumer Price Index

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It is an important indicator that measures changes in prices over a period of time.

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BLS calculates the CPI by considering a number of commodities and services essential to an average US consumer.

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CPI reveals important information about the state of the economy. As a result, the US central bank sees the CPI as an important indicator of inflation.

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If there is inflation (higher prices for goods and services), the CPI will rise over a period of time.

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A falling CPI means deflation, a steady decline in the prices of goods and services.

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In June 2022, CPI rose 9.1% year-on-year. The Fed responded by raising interest rates by 75 bps. As a result, the crypto market experienced a significant drop.

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In addition to it, Bitcoin suffered its worst financial quarter in a decade.

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