1 month ago
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US inflation jumped last month as President Donald Trump’s tariffs took hold, pushing up prices for items from clothing to coffee.
The labor department said consumer prices rose 2.7 per cent in the year to June, up from 2.4 per cent the previous month, with prices rising at the fastest pace since February.
Higher energy and housing costs, such as rents, were the major drivers of the increase.
But the data also suggested that consumers are starting to feel the impact of tariffs, as some firms begin to pass along the costs of Trump’s new taxes on imports.
Coffee prices jumped 2.2 per cent from May to June, while prices for citrus fruits climbed 2.3 per cent.
Toy prices rose 1.8 per cent, appliance prices increased 1.9 per cent, while clothing prices gained 0.4 per cent – the first increase to hit the sector in months.
But the overall increase remained contained and came in largely within expectations, offset by declines in prices for new and used cars, airfare and hotel bookings.
English (US) ·