Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

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.

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.

Inflation rose less than expected in April, as prices rose 2.3% over the year, down from 2.4% in March. Prices for gas and groceries fell, but housing and eating at restaurants got more expensive. Inflation was slightly milder than forecasters had expected, before consumers faced the full brunt of President Donald Trump's import taxes.

Spain's European Union-harmonised 12-month inflation rate remained at 2.2% in April from the period through March, final data released by the National Statistics Institute, or INE, showed on Wednesday.

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.

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.