US EditionU.S. inflation accelerated last month to 2.7%, highest level since February
UNITED STATES, JUL 15 – Tariffs imposed by the Trump administration contributed to a rise in consumer prices, with inflation hitting 2.7 percent, the fastest pace since February, the Bureau of Labor Statistics reported.
- The U.S. Consumer Price Index rose 0.3% in June, reaching a 2.7% annual increase, marking its highest level since February.
- This rise followed a period of relatively tame inflation readings, shifting amid higher prices partly linked to President Trump's sweeping tariffs on imports.
- The tariff structure includes a 10% duty on all imports, a 50% charge on steel and aluminum products, 30% tariffs targeting Chinese goods, and a 25% tax on vehicles brought in from abroad, leading companies such as Mitsubishi and Walmart to increase their prices.
- Core CPI inflation increased 2.9% over the year through June, with Goldman Sachs forecasting monthly core inflation rises of 0.3% to 0.4%, driven by tariff-related costs in electronics and autos.
- This inflation uptick likely reduces the chances of a Federal Reserve rate cut soon and keeps interest rates near the current 4.3%, as Fed officials monitor tariff impacts on prices.
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Fed’s Nightmare: CPI Inflation in Services Reheats (not tariffed), while Inflation in Durable Goods, Apparel & Footwear (tariffed) Remains Cool
While pundits looked with their magnifying glasses for tariffs in consumer goods prices, it was in services, which are not tariffed, where inflation took off again. Shocker? No
WASHINGTON — Inflation rose last month to its highest level since February as President Donald Trump's sweeping tariffs are raising the cost of everything from groceries and clothing to furniture and appliances.
Prices for everyday things rose faster than expected in June. Food became more expensive, airline tickets and cars cheaper. US President Trump finds everything harmless – and again puts pressure on the central bank.
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Total News Sources123
Leaning Left16Leaning Right12Center43Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 23%
C 61%
R 17%
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