Inflation, tariffs
Digest more
Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.
The pause on many tariffs was supposed to end this week, but it didn't. Despite that, reports still indicate that tariffs have caused a notable recent spike in inflation.
Tariff revenues surged dramatically, yet so far, there’s been minimal impact on CPI or core goods inflation. Click here for more information on the US Economy.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
Escalating import tariffs are beginning to show up in the prices that consumers pay. The President has backtracked on his promise to release government's files on sex offender Jeffrey Epstein, and the Senate has approved a cut of more than one billion dollars for the Corporation for Public Broadcasting – which provides money to NPR,
Welcome to The Hill’s Business & Economy newsletter{beacon} Business & Economy Business & Economy The Big Story What to know about the latest inflation report
While the direct effect of higher tariffs on inflation remained relatively moderate last month, there are signs that businesses are passing along the increased costs. Prices for household furnishings and operations,