Inflation, tariffs
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Inflation Increased In Jun. For 2nd Straight Month
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The report on producer prices adds to a mixed picture for inflation as the economy adjusts to the imposition of import tariffs.
Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher in June in what economists see as evidence of the Trump administration's increasing import taxes passing through to consumers.
Factory-gate prices held steady in June, surprising economists. The producer-price index was flat last month, the Labor Department said, missing forecasts for a 0.2% rise. The index rose by a revised 0.
10hon MSNOpinion
On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,
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The report on wholesale inflation came a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump’s sweeping tariffs pushed up the cost of everything from groceries to appliances.
Higher inflation could give the Bank of England pause for thought over cutting interest rates.
American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s
Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.