The annual inflation rate in the United States increased to 2.7% in June, marking the highest rate since February. This rise is primarily attributed to higher housing costs and essential items, including gas and groceries. Core inflation, which excludes food and energy, also rose to 2.9% annually. Additionally, tariffs imposed on foreign imports have led to price increases in household furnishings and other goods. The Federal Reserve's potential response to these inflation readings is under scrutiny as markets anticipate the impact on housing activity.
The annual inflation rate in the United States rose to 2.7% in June-its highest level since February, driven by higher housing costs and essential items.
Core inflation, excluding food and energy, increased to 2.9% annually, indicating underlying inflationary pressures amidst price hikes in various sectors.
Tariffs on foreign imports significantly affected household furnishings and triggered price hikes in goods like toys, clothing, and appliances.
The Federal Reserve's reaction to the inflation increase is monitored closely, with expectations leaning towards unlikely rate cuts impacting housing activity.
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