Inflation fell to 2.3% in Jun. in producer price index
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This article will be updated throughout the day, so check back often for more daily updates. One day after U.S. Bureau of Labor Statistics data showed that the consumer price index (i.e. consumer inflation) accelerated in June,
Economists’ anxiety about official U.S. inflation data is growing. One major issue: They don’t have the numbers they need to understand the scope of the problem.
Inflation is speeding up after a period of cooling down earlier this year.
Progress in bringing down the rate of inflation has halted, at least for now. But even with June’s boost in price growth, economists expect the full effects of higher tariffs to push inflation even higher in the coming months.
“While any tariff induced boost to inflation is likely to be short-lived, with higher tariffs being announced it would be wise for the Fed to remain on the sidelines for a few more months at least,” said Seema Shah, chief global strategist at Principal Asset Management.
Metro Phoenix continues to have the lowest inflation of any major U.S. city. The 0.2% climb in consumer prices here compares to 2.7% for the nation.
Follow live coverage of the June CPI data release. Inflation is expected to tick higher because of Trump's tariffs.
Underlying US inflation cooled more than forecast in June, marking the fifth consecutive month of softer-than-expected core consumer price increases, according to data released Tuesday by the Bureau of Labor Statistics.