Trump, Inflation
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Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.
June inflation hit 2.7% as tariffs bite. See why excess liquidity, new Fed pressure, and policy risks could fuel more inflation in the coming months.
Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.
21hon MSNOpinion
Up until June, inflation had been on the decline. But the president's tariffs are having the effect that economists said they would.