National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.

The Labor Department’s consumer price index for June showed overall inflation rose 2.7 percent from June 2024. That’s up from a 2.4 percent pace in May.

Progress in bringing down the rate of inflation has halted, at least for now. But even with June’s boost in price growth, economists expect the full effects of higher tariffs to push inflation even higher in the coming months.

The U.S. Bureau of Labor Statistics announced Tuesday that consumer prices moved upwards in June, with the true impact of President Donald Trump's tariffs looming on the horizon.

The White House keeps insisting that inflation is a thing of the past. The latest Consumer Price Index numbers help prove otherwise.

U.S. consumer prices likely picked up in June, potentially marking the start of a long-anticipated, tariff-induced increase in inflation that has left the Federal Reserve cautious about resuming its interest rate cuts.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing and large appliances.

The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics. However, the full impact of President Donald Trump's tariffs is still to come,