Official data showed Consumer Prices Index inflation rose to 3.6% in June, up from 3.4% in May and the highest since January 2024.

Inflation ticked up to its highest level in months in June amid concerns about President Donald Trump ’s threats surrounding tariffs and his larger global trade war. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The rate has increased to its highest level since January 2024 as a result of food prices and fuel costs and is likely to affect Bank of England interest rates next month

U.S. consumer prices picked up in June, likely marking the start of a long-anticipated tariff-induced increase in inflation.

President Trump’s tariffs have yet to reverse the disinflation trend that’s persisted since January, baffling economists and the bearish views that color the consensus narrative.

The inflation rate stood at 2.6% in March before April’s spike to 3.5% on the back of household bill increases. The FTSE 100 index is seen opening 0.2% lower after today’s inflation reading weakened sentiment following mixed trading on Wall Street overnight.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.