The latest federal data show the CPI increasing 2.7% over the previous 12 months, outpacing the 2.4% May figure and raising questions around the impact of trade uncertainty.

WASHINGTON (AP) — Inflation rose last month to its highest level in four months as the cost of gas, food, and groceries rose, reversing several months of cooling price pressures.

The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics. However, the full impact of President Donald Trump's tariffs is still to come, according to economists.

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.

The markets were braced for a rebound in June inflation in Canada and the US and that's exactly what happened today in both countries, as CPI and cor

US core inflation rose by 0.3% in June, the biggest increase since January, as tariffs pushed up import costs.

USD/JPY and AUD/USD move on trade talk progress, US PPI data, and Aussie housing trends. Policy paths in Japan, US, and Australia remain in sharp focus.

A rally that has taken U.S. stocks to record highs will be tested in the coming week by the kick-off of corporate earnings season and a key inflation report as investors hope to learn more about the economic fallout from tariffs.

Food prices have risen a bit faster than overall inflation lately, putting pressure on consumers. Three midyear supermarket trends to watch.

USD/JPY rallies as Trump’s tariffs hit BoJ rate hike bets. Japan inflation, trade, and US data to guide pair’s next move.

Moreover, global market trends and trading activity of foreign investors would also guide movement in equities, they said.

The possibility of a US Federal Reserve rate cut in September remains open, but it will largely depend on how the labor market and inflation evolve, noted a recent report by Union Bank of India research.