consumer price index, Trump
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Inquirer Business on MSNUS consumer inflation accelerates as tariff effects creep inUS consumer inflation picked up in line with analyst expectations in June, government data showed Tuesday, with vehicle costs cooling over the month but increases seen in sectors exposed to President Donald Trump’s widening slate of tariffs.
The White House keeps insisting that inflation is a thing of the past. The latest Consumer Price Index numbers help prove otherwise.
The Labor Department’s consumer price index for June showed overall inflation rose 2.7 percent from June 2024. That’s up from a 2.4 percent pace in May.
The EUR/USD pair trades with a soft tone in the 1.1640 region, with the US Dollar entering the American session with moderate strength. The Greenback suffered a short-lived downturn following the release of United States (US) inflation figures.
The June consumer price index will be the latest glimpse into whether tariffs are having an effect on consumer prices.
The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.