The crypto market stood at $3.4 trillion as the Consumer Price Index (CPI) in April stood at 2.3% over the last 12 months, the Bureau of Labor Statistics reported on May 13. The Federal Reserve has set an inflation target of 2%. As per Kraken's price feed, Bitcoin was trading at $103,587 at press time.

If you haven't seen the latest inflation data, the general idea is that prices are rising more slowly than expected. Not only is this the lowest inflation figure since early 2021, but it was one-tenth of a percentage point lower than economists had expected.

The U.S. Federal Reserve in May warned that America is facing an increased risk of stagflation. Inflation data for April somewhat assuages that fear.

The April consumer price index, a key gauge of U.S. inflation, came in slightly lower than economists expected at 2.3% in April, but was still higher than the Federal Reserve's 2% goal. CBS News MoneyWatch correspondent Kelly O'Grady has more.

CPI shows the 2% inflation target nearing, hinting at possible Fed rate cuts. Explore key market reactions and what this means for your investments.

Core inflation — which strips out energy and food prices, which can be volatile categories — was at 2.8% in April. "I think tariffs are the biggest question mark over the infl

Rents and home prices aren’t going up like crazy anymore, but they are still one of the biggest sources of U.S. inflation.

Inflation slowed to the lowest point in four years last month, but progress in reining it in will likely end there as higher tariffs start to push up the cost of consumer goods. The consumer price index climbed 2.