‘Concerning upward trend’ in June inflation data

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% on a seasonally adjusted basis in June, after rising 0.1% in May, the U.S. Bureau of Labor Statistics reported Tuesday.

"June prices increased in line with consensus expectations, with headline inflation accelerating while core prices ticked up slightly.  Commodity prices, particularly sensitive to tariffs, edged higher overall. However, declining vehicle prices helped offset some of the broader increases,” said America's Credit Unions Senior Economist Dawit Kebede. “The data marks a concerning upward trend in inflation, reversing earlier progress toward the Federal Reserve’s target. This trajectory reinforces the Federal Open Market Committee’s cautious stance of waiting for additional data before implementing rate cuts."