US inflation heats up to 2.7% — possible sign that Trump tariffs have begun to sting
US inflation ticked up in June in a possible sign that President Trump’s tariffs are starting to sting.
The Consumer Price Index rose 2.7% in June from the year before, matching economists’ expectations but coming in above the previous month’s 2.4% reading, the Bureau of Labor Statistics said Tuesday.
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Core CPI, which excludes volatile food and energy prices, gained 2.9% from a year earlier, above the previous month.
On a month-to-month basis, headline inflation rose 0.3%, in line with forecasts but above the previous month’s 0.1% jump.
The indexes for used cars and trucks and new vehicles were among those that saw the most substantial declines in June, according to the Bureau of Labor Statistics.
That came as a surprise for economists, who were calling for upticks in auto and apparel prices — two of the sectors that are hardest hit by tariffs.
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