Tariff effects spotty in United States’ June CPI

The front-running of tariffs earlier this year helped blunt but not derail the bump in inflation due to tariffs in June, as discussed by KPMG US Chief Economist Diane Swonk.

The United States' (US) consumer price index (CPI) rose 0.3 percent in June, more than triple the pace of May, and the strongest monthly gain since January. That translates to a 2.7 percent gain from a year ago, up from 2.4 percent last month and the hottest annual rate since February. Food prices at and away from home rose 0.3 percent. Food at home moved up 0.3 percent with gains in three of the six major indices more than offsetting a decline in the remaining three. They are some of the ...

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Authors: Diane Swonk

Published Date: 16 July 2025