Inflation Accelerated as Tariffs Pushed Up Prices

“Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month,” the New York Times reports.

“The Consumer Price Index rose 2.7 percent from a year ago, the swiftest pace since February… That is slightly higher than expected and is up from an annual pace of 2.4 percent in May.”

Wall Street Journal: “Many companies rushed to fill up their inventories by buying goods before tariffs took effect, making it easier for them to hold off on price increases in the spring.”