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.

Headline and core data in line with expectations but will not be enough to ease Fed’s fears of tariff-driven price rises

Inflation came in mostly in line with expectations in June, with price pressures firming on a yearly basis as investors look for signs that President Trump's tariffs may be starting to work their way through to consumers.