Bitcoin and other cryptocurrencies continued to fall sharply over the weekend following the release of the latest inflation data on Friday, reaching a new 40-year high. A further drop on Sunday puts bitcoin in a six-day losing streak. GET FOX BUSINESS IN ENGINE BY CLICKING HERE Bitcoin is trading at around $ 27,000, down more than 4% per week and almost 24% in the last 12 months. Ether also fell on Sunday, falling as much as 5% to around $ 1,400. Ether fell more than 14% last week and more than 35% in one year. INFLATION IN A NEW HIGH 40 YEARS OLD IN MAY WITH CONSUMER PRICES TO BE EXECUTED 8.6% The Ministry of Labor announced on Friday that the consumer price index, a broad measure of the price of everyday goods, rose 8.6% in May from a year earlier. Prices jumped 1% in the monthly period from April. These figures were also higher than the 8.3% of capital and the monthly profit of 0.7% predicted by Refinitiv economists. Price increases were extensive: Energy prices rose 3.9% in May from the previous month and rose 34.6% from last year. Gasoline, on average, costs 48.7% more than a year ago and 7.8% more than in April. GAS PRICES SET A NEW RECORD ON SUNDAY MORNING The price of a gallon of regular gasoline reached a historic milestone over the weekend and continues to move higher. CLICK HERE TO READ MORE ABOUT FOX BUSINESS The price rose to $ 5.01 on Sunday morning, according to AAA. Gas hit the $ 5 mark on Saturday morning for the first time ever as part of a record series.
