... Consumer Price Index increases 0.3% in June.
Core CPI rises 0.2%; advances 2.9% on year-over-year basis.
June could mark the start of tariff-induced price rises.
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.
Despite the pick-up in the Consumer Price Index reported by the Labor Department on Tuesday, underlying inflation remained moderate last month, with prices for new and used motor vehicles lower relative to May.
Services like airline fares as well as hotel and motel rooms were also cheaper in June. ...
Food prices rose 0.3%, matching the increase in May. Grocery store prices also advanced 0.3%, lifted by a 1.4% increase in the costs of nonalcoholic beverages and 2.2% jump in coffee prices. Fruits and vegetables cost 0.9% more while beef prices jumped 2.0%. But eggs were 7.4% cheaper as an avian flu outbreak abated. ...
Household furnishings and supplies prices shot up 1.0% after climbing 0.3% in May. Prices for appliances surged 1.9% while the cost of apparel rebounded 0.4%. Sporting goods prices accelerated 1.4% while toys vaulted 1.8%. ...
Owners' equivalent rent of primary residence rose 0.3%, but the cost of hotel and motel rooms declined 3.6%. Airline fares dipped 0.1%. The costs of services excluding energy services increased 0.3% after gaining 0.2% in May. ...
