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.
Core CPI, which excludes volatile food and energy prices, gained 2.9% from a year earlier, above the previous month.
US inflation rose in line with forecasts in June. Stephen Yang
On a month-to-month basis, headline inflation rose 0.3%, in line with forecasts but above the previous month’s 0.1% jump.
“While it’s a relief to see Tuesday’s CPI in-line with expectations, it still showed that inflation was hotter in June than it was in May,” Skyler Weinand, chief investment officer at Regan Capital, said in a note Tuesday.