Breakfast briefing: Softer economic activity brings lower inflation

In the meantime, US consumer inflation expectations over the next year eased in May, down to 4.1% and the lowest since March 2021 more than two years ago. Expectations for inflation for longer term periods however rose slightly. Labour market expectations were mixed with expected earnings growth declining, but unemployment expectations and perceived job loss risk improving. India's CPI inflation rate rose slower, and by 4.25% in May from 4.7% in the previous month, the lowest in two years and lower than market forecasts of 4.4%. The bitcoin price is again a little lower since this time yesterday at US$25,807, down -0.7%.