https://www.nytimes.com/2025/07/31/business/pce-inflation-fed.html
Key Inflation Measure Rose in June, Adding to Pressure on Fed
The price index was the latest indication that President Trump’s tariffs are beginning to show up in consumer prices.
Consumers are shouldering a growing share of the burden from President Trump’s tariffs as companies raise prices.
By Ben Casselman
July 31, 2025Updated 12:12 p.m. ET
The Federal Reserve’s preferred measure of inflation picked up last month, the latest sign that President Trump’s tariffs are starting to bleed through into consumer prices.
Consumer prices rose 0.3 percent in June and were up 2.6 percent from a year earlier, according to the Personal Consumption Expenditures price index, which the Commerce Department released on Thursday. “Core” prices, which exclude volatile food and energy costs to give a more reliable read of the underlying pace of inflation, also rose 0.3 percent from the prior month and were up 2.8 percent from a year earlier.
The June inflation figures were a modest acceleration from May, when overall prices were up 2.4 percent from a year earlier, and a bit hotter than forecasters had expected.