Inflation in June showed scattered signs of rising costs tied to the Trump tariffs, but Americans simply aren’t paying sharply higher prices because of U.S. trade wars. Here’s four things we learned from the latest consumer price index.

Citigroup (C) boosted its full-year net interest income guidance and now sees 2025 revenue at the high end of its previous guidance. The bank posted beats on both Q2 EPS and revenue. Its services business continued to shine, and banking revenue jumped 23% Y/Y.

CNBC's Rick Santelli reports on the latest economic data to cross the tape. Shohei Ohtani Had Priceless Exchange With Padres Closer Who Was Suspended for HBP

Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.

Even if we get an unexpectedly tame reading for the June CPI figures, it might be difficult to see the Fed cutting rates at the July 29-30 meeting. The June jobs report from two weeks back offered a mixed set of data,

CPI data shows headline and core inflation in line with expectations. Check out my thoughts on financial markets' reaction to CPI data.

Services inflation, especially rent and shelter inflation, continued to decline, offsetting rising core goods inflation that may be influenced by tariffs, Steve Hou, a quant researcher at Bloomberg, said in a Tuesday post on X.

The CPI rose 0.3% month-over-month in June, accelerating from May’s 0.1% pace. Year-over-year inflation also jumped to 2.7%, up from 2.4% in May. Core CPI, which excludes food and energy, rose 0.2% in June and came in at 2.9% annually — signs that underlying inflationary pressure remains sticky.