Consumers blame companies for exploiting the disruption caused by tariffs. They believe companies are raising prices and reducing quality to boost profits.

Consumer Price Index, or CPI rose 0.3%,the largest monthly gain since January, pushing year-over-year inflation to 2.7%, up from 2.4% in May.

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.

Tariff revenues surged dramatically, yet so far, there’s been minimal impact on CPI or core goods inflation. Click here for more information on the US Economy.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing and large appliances.

The dollar edged down against the euro and yen on Wednesday after hitting multi-week highs the previous day, as investors awaited producer price data later in the session for clues on potential tariff-driven inflation.

Inflation rose last month to its highest level since February as President Donald Trump's sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.