Inflation rose in June to its highest level since February, the Associated Press reports. The news comes as President Donald Trump’s sweeping tariffs are driving up prices on goods like furniture, clothing and large appliances.
The Labor Department said Tuesday that consumer prices were up 2.7% in June from one year earlier. That’s up from an annual increase of 2.4% in May.
On a monthly basis, prices rose 0.3% from May to June after only a 0.1% rise the prior month.
Worsening inflation represents a political challenge for Trump, who vowed during his presidential campaign last year to immediately bring down costs. Higher inflation may also heighten the Federal Reserve’s reluctance to reduce its short-term interest rate.
