Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

The Labor Department’s consumer price index for June showed overall inflation rose 2.7 percent from June 2024. That’s up from a 2.4 percent pace in May.

Egg prices cooled significantly in June, deviating from an overall rise in prices. The price of eggs climbed 27% over the year ending in June, which marked a slowdown from 41% year-over-year growth in May. Under Trump, inflation has defied doomsday predictions and helped to propel sturdy economic performance.

Canada's annual inflation rate rose to 1.9% in June, meeting analysts' expectations, as increases in the price of automobiles, clothing and footwear pushed the index higher, data showed on Tuesday.

Inflation is speeding up after a period of cooling down earlier this year.

The White House keeps insisting that inflation is a thing of the past. The latest Consumer Price Index numbers help prove otherwise.

U.S. consumer prices likely picked up in June, potentially marking the start of a long-anticipated, tariff-induced increase in inflation that has left the Federal Reserve cautious about resuming its interest rate cuts.

The June data still reflects only the initial impact of Mr. Trump’s global trade war. Economists expect price pressures to intensify over the coming months, especially if new tariffs the president has threatened against the European Union and a host of other countries in recent days are imposed on Aug. 1 as planned.

The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics. However, the full impact of President Donald Trump's tariffs is still to come,