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.
Maritime traffic in and out of Iran will be controlled by the U.S. military Washington said. Iran warns of harsh response to the blockade. A two-we...
Millions of people in Sudan are surviving on just one meal a day as the country’s worsening hunger crisis pushes communities closer to famine...
Cement maker Lafarge was found guilty by a French court on Monday (13 April) of paying millions to jihadist groups, including ISIS, to keep a plant...
Afghanistan’s Foreign Ministry said on Sunday that talks with Pakistan had been positive, while Türkiye stressed the importance of stron...
South Korea is close to finalising an agreement to import crude oil from Kazakhstan, according to Industry Minister Kim Jung-kwan, as the country s...
Hungary votes on Sunday in a parliamentary election that could loosen Viktor Orbán’s 16-year hold on power. His ruling Fidesz faces a strong challenge from Péter Magyar’s Tisza party, which has led some polls, though many voters remain undecided.
Chinese President Xi Jinping has told Taiwan opposition leader Cheng Li-wun that “people on both sides of the Taiwan Strait are Chinese” and that the future of cross-strait ties should be decided by “the Chinese people themselves”.
Israeli Prime Minister Benjamin Netanyahu says he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah.
More than a million Sudanese refugees now face drastic cuts to life-saving aid, including food and water, after major funding shortfalls have left humanitarian agencies struggling to cope.
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orbán’s more than 15 year rule. Opinion polls show Orbán’s Fidesz party trailing 45-year-old Péter Magyar’s centre-right opposition Tisza party.
U.S. and Iranian negotiators held their highest-level talks in half a century in Pakistan on Saturday in an effort to end their six-week war, as President Donald Trump said the U.S. military had begun the process of clearing the Strait of Hormuz.
At least 30 people were killed on Saturday in a stampede at Haiti’s Laferrière Citadel World Heritage Site, with authorities warning that the death toll could rise.
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Benjamin Netanyahu was blown up in a Spanish town.
Nine suspects were arrested on Saturday (11 April) in connection with a terror attack targeting a police post in Istanbul’s Beşiktaş district.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
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