International
U.S. Inflation Rises As Tariffs Drive Up Prices
UNITED STATES – U.S. inflation surged last month as President Donald Trump’s tariffs began to bite.
UNITED STATES – U.S. inflation surged last month as President Donald Trump’s tariffs began to bite.
Consumer prices jumped 2.7% year-over-year in June, the biggest rise since February with increases seen in coffee, clothing, toys and appliances, according to the Labor Department.
Experts say businesses are now passing on the cost of Trump’s import taxes to consumers.
While prices for airfare, cars and hotels dipped, economists warn tariff-driven inflation is likely to grow, with more duties set to take effect August 1st.
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