U.S. inflation rose sharply in June, marking the highest increase since February, with consumer prices up 2.7% year-over-year. Economists are now seeing early signs that President Trump’s sweeping tariffs are starting to push prices higher—especially for groceries, clothing, furniture, and appliances.
While energy and housing costs also contributed to the rise, core inflation (excluding food and gas) increased to 2.9%. These numbers make it less likely the Federal Reserve will cut interest rates soon. Meanwhile, political debate is heating up as the public feels the pinch and businesses like Walmart and Nike begin passing costs to consumers.
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