Summary:
The U.S. Consumer Price Index rose 2.7% year-on-year in June, above the Fed's 2% target. Trump insists that tariffs have not increased inflation.
US CPI July
12/8/2025 (Tue)
Previous: 2.7% Forecast: 2.8%
US consumer prices increased 2.7%, in June on an annual basis. The numbers were right in line with the Dow Jones consensus, though the annual rate is the highest since February and still above the Fed’s 2% target.
Before June, inflation had been on a generally downward slope for the year. But fears of Trump’s trade war appeared to be justified by rising apparel and household furnishing costs.
Trump insisted that tariffs are not aggravating inflation, and has contended that the Fed’s refusal to ease is raising the costs the US has to pay on its burgeoning debt and deficit problem
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