U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand and falling service prices may keep the Federal Reserve cautious about rate changes.
Consumer inflation in the U.S. picked up in June, with the Consumer Price Index (CPI) rising 0.3%—the sharpest monthly increase since January—driven by higher costs for goods and housing.
The data suggests early signs of tariff pass-through, particularly following President Donald Trump’s announcement of sweeping new import duties.
Despite this uptick, core inflation remains relatively muted due to easing service prices, including hotel stays and airfares. Economists expect more significant tariff-related price pressures in the coming months, especially on imported goods like appliances and apparel.
Food and fuel also saw modest gains, while used car prices declined. The core CPI, excluding food and energy, rose 0.2% in June and 2.9% annually. Economists say the Fed is likely to keep interest rates unchanged at its upcoming meeting, awaiting more data before making any policy shifts.
While Trump continues to call for rate cuts, most Fed officials remain cautious, pointing to lingering uncertainty over inflation’s trajectory and labor market signals. Market reactions were mixed, with stocks steady and bond yields slightly higher.
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The U.S. Helsinki Commission is set to refocus attention on Georgia’s domestic political crisis and its faltering relationship with Washington with a 11 February briefing titled “Georgian Dream’s Growing Suppression of Dissent.”
Iran would retaliate by striking U.S. military bases across the Middle East if it comes under attack by American forces, Foreign Minister Abbas Araghchi said on Saturday (7 January), stressing that such action should not be seen as targeting the countries hosting those bases.
The U.S. and China are locked in a growing struggle over critical minerals, the materials that power everything from electric vehicles and microchips to missiles and advanced radar systems, as both sides move to secure control over supply chains that underpin economic and military power.
Vladimir Putin’s special envoy Kirill Dmitriev is expected to travel to Miami on Saturday for meetings with members of Donald Trump’s administration, two sources familiar with the plans told Reuters.
JD Vance arrived in Armenia on Monday (9 February), becoming the first sitting U.S. Vice President to visit the country, as Yerevan and Washington agreed to cooperate in the civil nuclear sector in a bid to deepen engagement in the South Caucasus.
The United States and Azerbaijan signed a strategic partnership in Baku on Tuesday (10 February) encompassing economic and security cooperation as Washington seeks to expand its influence in a region where Russia was once the main power broker.
Buckingham Palace said it is ready to support any police investigation into allegations that Prince Andrew shared confidential British trade documents with late sex offender Jeffrey Epstein, as King Charles expressed “profound concern” over the latest revelations.
U.S. military forces have seized a sanctioned oil tanker in the Indian Ocean after tracking the vessel from the Caribbean Sea, the Pentagon said on Monday.
“Peace is not just about signing treaties - it’s about communication, interaction and integration,” Sultan Zahidov, leading adviser at the AIR Center, told AnewZ, suggesting U.S. Vice President JD Vance's visit to the South Caucasus could advance the peace agenda between Azerbaijan and Armenia.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
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