{"id":47212,"date":"2022-06-12T10:55:56","date_gmt":"2022-06-12T10:55:56","guid":{"rendered":"https:\/\/harchi90.com\/inflation-takes-bite-out-of-cryptos\/"},"modified":"2022-06-12T10:55:56","modified_gmt":"2022-06-12T10:55:56","slug":"inflation-takes-bite-out-of-cryptos","status":"publish","type":"post","link":"https:\/\/harchi90.com\/inflation-takes-bite-out-of-cryptos\/","title":{"rendered":"Inflation takes bite out of cryptos"},"content":{"rendered":"<div><!----> <!----> <\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Financial experts Jim Paulsen, Brian Wesbury and Michelle Girard reflect on how consumers are struggling with record-high inflation on &#8216;Making Money.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Bitcoin and other cryptocurrencies continued a wide-ranging decline over the weekend following Friday&#8217;s release of the latest inflation data reaching a new 40-year high.<\/p>\n<p>A further decline on Sunday puts bitcoin on a six-day losing streak.<\/p>\n<p><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n<p>Bitcoin is trading around $ 27,000, down more than 4% for the week and nearly 24% for the past 12 months.<\/p>\n<p><iframe class=\"cryptocurrency\" src=\"https:\/\/foxbusinessp.factsetdigitalsolutions.com\/ext\/fio\/foxbusinessportal\/factsheet-header\/XX:213086262\" id=\"facsetiframe\"> <\/iframe><\/p>\n<p>Ether also fell on Sunday, declining as much as 5% to around $ 1,400.  Ether is down more than 14% in the past week and more than 35% in a year.<\/p>\n<p><strong>INFLATION HITS FRESH 40-YEAR HIGH IN MAY WITH CONSUMER PRICES SURGING 8.6%<\/strong><\/p>\n<p>The Labor Department said Friday that the consumer price index, a broad measure of the price for everyday goods, rose 8.6% in May from a year ago.  Prices jumped 1% in the one-month period from April.  Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists. <\/p>\n<p><iframe class=\"flourish-embed-iframe\" style=\"height:600px;width:100%;\" sandbox=\"allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation\" scrolling=\"no\" frameborder=\"0\" title=\"Interactive or visual content\" src=\"https:\/\/flo.uri.sh\/visualisation\/8927714\/embed\"> <\/iframe><\/p>\n<p>Price increases were widespread: Energy prices rose 3.9% in May from the previous month, and are up 34.6% from last year.  Gasoline, on average, costs 48.7% more than it did one year ago and 7.8% more than it did in April.<\/p>\n<p><strong>GAS PRICES SET NEW RECORD SUNDAY MORNING<\/strong><\/p>\n<p>The price of a gallon of regular gasoline hit an historic milestone over the weekend and continues to move higher.<\/p>\n<p><strong><u>CLICK HERE TO READ MORE ON FOX BUSINESS<\/u><\/strong><\/p>\n<p>The price on Sunday morning rose to $ 5.01, according to AAA.<\/p>\n<p>Gas hit the $ 5 mark on Saturday morning for the first time ever as part of a record setting run.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Financial experts Jim Paulsen, Brian Wesbury and Michelle Girard reflect on how consumers are struggling with record-high inflation on &#8216;Making Money.&#8217; Bitcoin and other cryptocurrencies continued a wide-ranging decline over the weekend following Friday&#8217;s release of the latest inflation data reaching a new 40-year high. A further decline on Sunday puts bitcoin on a six-day &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/inflation-takes-bite-out-of-cryptos\/\"> <span class=\"screen-reader-text\">Inflation takes bite out of cryptos<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/05\/0\/0\/bitcoin-blog-iStock-1.jpg?ve=1&tl=1","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/47212"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=47212"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/47212\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=47212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=47212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=47212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}