Inflation Accelerates In June As Tariffs Start To Bite

WASHINGTON (AP) — Inflation rose last month to its highest level in four months as the cost of gas, food, and groceries rose, reversing several months of cooling price pressures. The Labor Department said that consumer prices rose 2.7% in June from a year earlier, up from an annual increase of 2.4% in May. On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month. Worsening inflation poses a political challenge for President Donald Trump, who promised during last year’s presidential campaign to immediately lower costs.