US Edition5 Things to Know About the Latest Inflation Report
UNITED STATES, JUL 15 – Annual inflation rose to 2.7% in June, driven by tariffs on imports that increased prices for furniture, clothing, and groceries, according to the U.S. Bureau of Labor Statistics.
- On Tuesday, the U.S. Department of Labor reported consumer prices rose 2.7% year-over-year in June, up from 2.4% in May.
- Behind the spike, President Donald Trump’s latest round of tariffs expanded to goods from Mexico, Japan, Canada, Brazil, and the European Union with more hikes set for August 1.
- In June, grocery prices like coffee jumped 2.2%, beef 2.0%, fruits and vegetables 0.9%, and beverages 1.4%, while used cars fell 0.7% and new vehicles dipped 0.3%.
- The Federal Reserve is caught between rising prices and political pressure, and President Donald Trump has demanded lower rates despite the Fed standing firm.
- Looking ahead, markets anticipate the Federal Reserve will hold its next meeting on July 29 and 30 to consider policy responses.
267 Articles
267 Articles
Latest inflation numbers show prices for things like apparel, toys and furniture have risen, while new cars and oil have stayed low
Wheeling, W.Va. (WTRF-TV) The latest inflation numbers are in for the month of June, and they reveal increasing prices due to tariffs. Prices for things like apparel, toys and furniture have risen, while new cars and oil have stayed low. Overall, the consumer price index rose to 2.7% in June, after posting 2.4% for May. Jason Haswell, Managing Director of the Monteverde Group, says major retailers, like Walmart and Target, have tried to eat som…
US inflation jumps as Trump tariffs 'bite'
What happenedConsumer prices rose 0.3% in June, according to Labor Department data released Tuesday, pushing the annual inflation rate to 2.7%. That's the highest rate since February.Imported items saw some of the steepest price hikes. The cost of appliances, for example, jumped 1.9%, the biggest monthly rise since the Covid-19 pandemic in 2020.Who said whatWhile the inflation numbers aren't "as bad as expected," they suggest that President Dona…
The market’s been wrong on the Fed for three straight years — this Deutsche Bank strategist says it’s now looking like four.
Deutsche Bank strategist Henry Allen said for the fourth straight year, markets are complacent over inflation, but tariffs are making that a dangerous viewpoint right now. Article Attribution | Read More at Article Source The post The market’s been wrong on the Fed for three straight years — this Deutsche Bank strategist says it’s now looking like four. appeared first on RocketNews.
‘Who Do You Work For?’ Trump Interrogates Reporter Who Confronted Him Over Inflation
President Donald Trump interrogated a reporter who confronted him about the potential inflationary effects of his policies, asking him “Who do you work for?” The Bureau of Labor Statistics published its CPI (Consumer Price Index) report on Tuesday morning, which showed worse-than-expected numbers that experts attribute partially to Trump’s tariff policies: The Consumer Price Index increased at an annual rate of 2.7 percent, after rising 2.4 perc…
2 teens stabbed, 1 seriously, feet from popular annual Long Island carnival
Stocks were taken on a wild ride Wednesday as a White House official indicated to CNBC that President Donald Trump was moving closer to firing Jerome Powell from his post as Federal Reserve chairman, knocking down the S&P 500. The benchmark rebounded somewhat as Trump later denied the report, but traders still fear he could follow through. The S&P 500 was last down 0.1% after losing as much as 0.6% earlier in the session. The Nasdaq Composite tr…
Consumer prices in the United States rose 0.3% in June, the highest monthly increase since January.
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