Inflation, tariffs
Digest more
inflation, June
Digest more
Higher tariffs put in place by the Trump White House this year have started to increase inflation, and these effects are likely to increase in the coming months, New York Fed President John Williams said Wednesday.
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.
US wholesale inflation was muted in June, signaling that price pressures might not be building for producers and manufacturers.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven price pressures, prompting markets to scale back bets of Federal Reserve rate cuts and pushing the dollar and U.
The Bureau of Labor Statistics reports a 0.3% increase in the consumer price index last month, raising the annual inflation rate to 2.7%.