Overview

• Bureau of Labor Statistics data show CPI rose 2.7% year over year in June, up from 2.4% in May, while core CPI increased 2.9% on an annual basis.
• Prices for apparel, footwear and furniture and bedding climbed in June, rising 0.4%, 0.7% and 0.4% respectively, signaling early pass-through of tariff costs.
• President Trump rolled out new 20%–50% tariffs on goods from more than 20 countries—including 35% on Canadian imports and 30% on Mexican and EU products—set to take effect on August 1.
• Frequent pauses and reversals in trade policy have prompted companies to delay price adjustments until the August 1 tariff round clarifies final costs.
• The European Union has opened negotiations and prepared potential countermeasures against U.S. levies, complicating global trade dynamics.