Consumer Price Index, Trump
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CPI inflation jumps in Jun. to 2.7% annual rate
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Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.
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.
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Inflation rose in June, data shows. Here's what economists expect for prices moving forward.The Consumer Price Index reveals prices grew faster in June than in May. The annual inflation rate ticked up to 2.7%, the highest level since February. With new tariffs set for August, economists warn prices could go up more.
EUR/USD is technically bearish in the near term, and could fall towards 1.1590. The EUR/USD pair trades with a soft tone in the 1.1640 region, with the US Dollar entering the American session with moderate strength. The Greenback suffered a short-lived downturn following the release of United States (US) inflation figures.
The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.
US inflation heated back up in June, rising to its highest level in four months, as higher prices — including those from tariffs — packed a bigger punch.