The U.S. CPI rose in June, potentially marking the beginning of a long-anticipated tariff-induced rise in inflation, making the Federal Reserve cautious about resuming interest rate cuts. Data from the U.S. Bureau of Labor Statistics shows that the CPI rose 0.3% month-over-month in June, following a slight increase of 0.1% in May. This is the largest increase since January. Year-over-year, it rose 2.7% after rising 2.4% in May. Core CPI rose 0.2%, up 2.9% year-over-year, after rising 2.8% for three consecutive months. A sharp rise in goods prices may be partially offset by a moderate rise in service costs, easing concerns about rising widespread inflationary pressures. Weak demand has limited price increases in service-related categories such as airline ticket prices, hotels, and motel room prices. (Golden Ten) [Odaily Planet Daily News]

U.S. inflation rose as expected in June, causing the Federal Reserve to remain cautious about cutting interest rates.