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U.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.
149 Articles
149 Articles
The first indicators that account for the bad policies taken by the United States are just beginning to feel, inflation has begun to accelerate, which will have negative effects on American households. The consumer price index rose 2.7 percent on an annual basis in June. The June data are beginning to reflect this process and the expectation is that these pressures will intensify in the coming months, the expectation is that this upward trend ca…
Helena Independent Record
OANow.comInflation ticks up amid tariff whipsaw
WASHINGTON — Inflation rose last month to its highest level since February as President Donald Trump's sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances.
In the US, prices rose by 2.7 percent in June compared to a year earlier, as expected, according to official data released on Tuesday.
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