Markets aren’t acting like this is a reality, however. Benchmark 2-year U.S. Treasury note yields rose just two basis points following the inflation release, to 3.946%, and 10-year paper is holding at 4.475%. Stocks are also trading at the highest levels on record.

Albertsons shares falls as the gross margin rate drops to the lowest rate in five years, as the company tried to keep prices down despite rising costs.

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

Inflation rose last month to its highest level in four months as the cost of gas, food, and groceries rose, reversing several months of cooling price pressures.

Consumer prices rose faster than​ in May,​ with increases in furniture, clothing and other tariff-sensitive items​.

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.

US inflation rose again in June to its highest level in four months, as President Donald Trump’s tariffs began driving up consumer prices.

Inflation is speeding up after a period of cooling down earlier this year.

The Labor Department’s consumer price index for June is expected to show that overall inflation rose 2.6 percent from June 2024. That’s up from a 2.4 percent pace in May.

Tariff fans have been boasting that President Trump's import taxes are raising federal revenue without contributing to inflation. They were premature. Inflation data for June shows notable monthly price increases in several categories dominated by imports,

The U.S. bond market was in the process of selling off on Tuesday in a manner that tends to spell fresh trouble for many stock investors.