Overview

• Headline CPI rose 2.7% year-on-year in June, up from 2.4% in May, while core inflation excluding food and energy climbed to 2.9%
• Prices for import-exposed goods such as apparel, furniture and electronics saw notable increases even as overall monthly CPI rose just 0.3%
• The Federal Reserve’s Beige Book reported input cost pressures in all 12 districts and said many firms have started passing higher duties on to consumers
• Wall Street bank CEOs including Jane Fraser and Charles Scharf noted pauses in capital expenditures and hiring among corporate clients as policy uncertainty mounts
• Futures markets nearly rule out a July rate cut and economists warn that additional levies set for August and dwindling pre-tariff inventories could drive further price pressures