Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month. (Video via CBS News)

ABC News called it “a notable surge of price increases as President Trump’s tariff policy took hold.” “Worsening inflation poses a political challenge for President Donald Trump, who promised during last year’s presidential campaign to ...

Nasdaq edges higher after president's latest tariff threats