Tariffs might be starting to show in America’s inflation rate

According to new data from the Bureau of Labor Statistics, consumer prices rose 2.7% year over year in June — slightly above forecast and the fastest pace since February — with some suggesting that President Trump’s sweeping tariffs may finally be filtering through to nudge up prices on a range of goods. 

But beyond the monthly ups and downs, where has inflation hit hardest — and where have prices actually fallen — in the last 12 months?

The bad news: Food at home is up 2.4% from last year, the fastest rate in nearly two years. Among the biggest contributors are eggs (up 27%) amid avian flu disruptions, while your morning coffee (up 13.4%) and evening steak (up 10.6%) have also gotten pricier on the back of squeezed supply and tariff jitters.

The good news: While repairing a car has gotten pricier, fueling one hasn’t, with gasoline prices down 8.3% thanks to surging global oil supply. Meanwhile, it could be a good time to get globe-trotting: airfares are down 3.5% from June 2024 and hotel stays have fallen 3.7%, too.

See the full article here.