Inflation reached 2.7% in June, marking the highest level since February, due to the impact of President Trump's tariffs on various consumer goods. The Labor Department reported a monthly price increase of 0.3%. Core inflation, which omits volatile categories like food and energy, rose to 2.9% annually. This increase raises concerns for Trump, who sought to lower costs, as price hikes in gasoline, groceries, and other goods reflect tariffs' effects. Federal Reserve Chair Jerome Powell plans to assess the economy before adjusting interest rates, amid this inflationary pressure.
Inflation rose 2.7% in June from a year earlier, the highest level since February, pressured by President Trump's tariffs affecting consumer goods prices.
Core inflation, excluding food and energy, increased 2.9% in June from a year earlier, indicating trends in long-term price stability.
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