Trump, inflation and tariff
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Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.
New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.
The pause on many tariffs was supposed to end this week, but it didn't. Get the inside scoop on tariffs and what they mean for your budget.
A fresh report on Tuesday marked two consecutive months of rising inflation. Consumer prices rose 2.7% in June compared to a year ago, marking a notable surge of price increases as President Donald Trump's tariff policy took hold and some retailers warned they may pass some of the tax burden onto shoppers.
Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month.
A new report out this week is revealing the potential impact of President Trump's tariffs on prices and inflation.
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Gary Cohn, IBM vice chairman and former National Economic Council Director under President Trump, joins 'Squawk Box' to discuss the state of the economy, June's CPI data, President Trump's tariff agenda,
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 since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.