Price Inflation Rose in June to a Five Month High—But Don't Blame Tariffs

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The U.S. Consumer Price Index (CPI) rose by 2.7% year-on-year in June, an increase of three...

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Inflation rose a tenth more than expected in June, driven by the effect of the Israeli-Iran war on fuels and by the rise in food prices. The CPI climbed three tenths last month to the annual rate of 2.3%, its highest level since March. The increase in prices had moderated the previous three months, but tensions in the Middle East and international uncertainty have broken with that movement, as confirmed on Tuesday by the National Institute of St…

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Inflation has broken its downward trend with a sharp increase. In the Southern Basque Country, it rose by four tenths of a percentage point in June, to 2.7%, and has again moved away from 2%. The rise in food prices has not been much of a break, but other factors have played a major role in the increase in June: fuels were put on the market in June last year, but, as a result of Israel's attack on Iran, diesel and gasoline have become more expen…