Inflation Picked Up In June As Tariffs Pass Through

2025-08-01 10:30:00 ET

By William J. Luther

President Trump’s tariffs appear to be pushing prices higher. Inflation picked up in June, according to new data from the Bureau of Economic Analysis . The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at an annualized rate of 3.4 percent last month, up from 2.0 percent in May. It has averaged 2.5 percent over the last three months and 2.6 percent over the last year....

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