Inflation Increases Slightly in June

It’s really hard to point to this report or any details in the report and say, ‘Aha! See what’s happened to prices because of tariffs.’

Senior economist at Allianz Trade North America, Dan North, on the latest Consumer Price Index (CPI) reading that reflects the inflation that consumers experience generally.

Why It Matters: This latest reading shows a slight increase in inflation, which follows a slight increase in May, and raises some questions about whether this data serves as the first sign of how higher tariffs may impact consumers.

“Vehicle prices fell on the month, with prices on new vehicles down 0.3% and used car and trucks tumbling 0.7%. However, tariff-sensitive apparel prices rose 0.4%. Household furnishings, which also are influenced by tariffs, increased 1% for the month.” (CNBC)

Read More: Inflation picks up again in June, rising at 2.7% annual rate (CNBC)

READ the full report HERE (U.S. Bureau of Labor Statistics)