Modest evidence of tariff impact on June US inflation, but that is set to change

From think.ing.com

The June consumer price inflation report shows a 0.3% month-on-month reading for headline inflation (0.287% to three decimal places) and a 0.2% MoM outcome for core (0.228%) versus the consensus forecast of 0.3% for both. The details show that there was some scattered evidence of early tariff impacts on some goods components – mainly fresh fruit & vegetables, household appliance, toys, clothing and sporting goods, but this was offset to a large extent by softness in the all-important shelter component, which has an approximately 40% weighting within the core CPI basket. It rose only 0.2% MoM while new vehicle ... (full story)