US inflation rises for first time in 5 months as tariff costs Ripple through economy

In June, US core inflation saw a 0.3% rise, the highest since January due to tariff-induced costs. Retail sales growth remained weak, prompting the Federal Reserve to refrain from interest rate reductions amidst inflation concerns.

Globally, inflation is becoming a pressing issue. Central banks in Canada, Japan, and the UK are closely monitoring tariff effects. Annualized core inflation is expected to rise to 2.9%, indicating businesses shifting import costs onto consumers.