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10h ago

U.S. Inflation Rises on Tariff Impact While India Hits Six-Year Low

Fed officials plan to maintain rates at 4.25%–4.50% in July as tariff-driven price gains take hold in consumer goods.

Customers buy fruits and vegetables at an open air evening market in Ahmedabad, India, August 21, 2023. REUTERS/Amit Dave/File Photo
A teller counts U.S. dollar bank notes at a money changer in Jakarta, Indonesia, April 9, 2025. Picture taken through glass. REUTERS/Willy Kurniawan/ File Photo
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Statistics Canada is set to release June inflation figures on Tuesday. A person pumps fuel in Toronto, on Wednesday, September 12, 2012. THE CANADIAN PRESS/Michelle Siu

Overview

  • U.S. headline CPI rose 0.3% in June from May and reached 2.7% year-over-year, topping economists’ forecasts of 2.6%.
  • Core CPI excluding food and energy climbed 0.2% month-over-month and 2.9% year-over-year in June.
  • Tariff-exposed categories such as furniture, appliances and apparel showed pronounced price increases as firms depleted pre-tariff inventories.
  • Businesses initially absorbed some duty costs but are now passing higher import expenses on to consumers.
  • In India, consumer inflation eased to 2.10% in June, its lowest since 2019, driven by a 1.06% drop in food prices and strong crop output.