US consumer prices rose more than expected in April, sending stocks lower and pushing bitcoin briefly under the key $80,000 level before a modest recovery. The data reinforced bets that the Federal Reserve will hold rates steady.
April consumer price index figures released on May 12 showed a 0.6 percent month-over-month increase, double the 0.3 percent forecast, while the year-over-year rate climbed to 3.8 percent against expectations of 3.7 percent. Core prices excluding food and energy rose 0.4 percent, exceeding projections of 0.2 percent.
