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

The EUR/USD pair trades with a soft tone in the 1.1640 region, with the US Dollar entering the American session with moderate strength. The Greenback suffered a short-lived downturn following the release of United States (US) inflation figures.

Tech led US stocks higher on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

US consumer inflation picked up in line with analyst expectations last month, government data showed Tuesday, as policymakers try to gauge how President Donald Trump's ever-growing list of tariffs is affecting the economy.

The June consumer price index will be the latest glimpse into whether tariffs are having an effect on consumer prices.

Excerpts from recent editorials in the United States and abroad: ___ July 11 The Washington Post says the costs of Trump's tariffs have become more clear To many Americans, President Donald Trump’s tariffs might seem costless.

China reported a better-than-expected economic growth as the world’s second largest economy took advantage of a trade truce with the US amid President Donald Trump’s tariff offensive.

“You can only get so much in before, again, prices are going to start to rise,” Kates said. “And so, as new orders are going to start to come in over the next six months through the rest of the year, those are probably going to be imported at higher prices than what you bought yesterday.”

Inflation picked up in June to 2.7 percent, according to the Consumer Price Index report released Tuesday by the Bureau of Labor Statistics. This is an increase over May’s annualized inflation rate of 2.