The news on consumer prices comes one day ahead of the results of the Fed's latest monetary policy meeting.

tl;dr The U.S. Consumer Price Index (CPI) for May rose by 0.1%, lower than expected. Year-over-year CPI slowed to 4.0%. Bitcoin increased by nearly 1% after the report. Market participants now indicate a 79% chance of the Fed pausing rate hikes. Stock index futures are slightly higher, while Treasury yields have decreased.