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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U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, football officials and even a FIFA-appointed referee to attend. It's raised a lot of questions about access to such a high-profile global event.
The United States began their World Cup campaign in commanding fashion with a 4-1 victory over Paraguay, delivering an emphatic performance that underlined its ambitions in Group D.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Japan’s birth rate and fertility levels have fallen to their lowest levels on record, highlighting the country’s worsening demographic crisis as fewer people marry and have children.
At the start of 2026, something unusual happened in China's car market. BYD, the company that had spent years at the top of the domestic sales charts, was knocked off its perch by a rival.
Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
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