Hardware Retailing The Industry's Source for Insights and Information
Inflation increased in June as President Trump’s tariffs continue to impact the U.S. economy. The Consumer Price Index rose 2.7% from June of last year, according to the U.S. Bureau of Labor Statistics, the fastest pace since February.
Prices rose 0.3% in June, up from 0.1% in May. Prices of products like household furnishings and other items most impacted by tariffs, rose by 1%. This number is significantly higher than the 0.3% increase last month. Appliance prices rose 1.9%, up from 0.8% in June.
As President Donald Trump’s new policies and tariffs come into play in the coming months, prices are expected to rise even more, with increased pressure on the economy.
