BlockBeats News, May 12th. The U.S. Department of Labor will release the U.S. CPI data for April tonight at 8:30 PM Beijing time. The market generally expects an increase of 3.7%, which will be the largest gain since September 2023, further strengthening the market's expectation that the Fed will keep interest rates unchanged for a period of time.

Two consecutive months of strong inflation data will increase the political risk for Trump and the Republican Party before the November midterm elections. Trump's return to the White House in 2024 was largely due to his campaign promise to lower inflation. However, now the American people are disappointed in Trump's handling of the economy, with many blaming him for the rise in oil prices. "People now realize that the previous claims of reducing the cost of goods and services were just a fairy tale. They were barely staying afloat, only their noses were above water, but now they have been pulled under the surface, unable to catch a breath."

According to PolyBeats monitoring, on the prediction market Polymarket, there is a 46% probability of the April CPI data being 3.7% and a 35% probability of it being 3.5%.