Official data showed Consumer Prices Index inflation rose to 3.6% in June, up from 3.4% in May and the highest since January 2024.

The rate has increased to its highest level since January 2024 as a result of food prices and fuel costs and is likely to affect Bank of England interest rates next month

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

The inflation rate stood at 2.6% in March before April’s spike to 3.5% on the back of household bill increases. The FTSE 100 index is seen opening 0.2% lower after today’s inflation reading weakened sentiment following mixed trading on Wall Street overnight.

U.S. consumer prices picked up in June, likely marking the start of a long-anticipated tariff-induced increase in inflation.

National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.

New Delhi, Jul 14 (PTI) Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon.

Where’s all the inflation from the Trump trade wars? So far, the evidence really hasn’t shown up — but many economists say it’s coming soon, perhaps as soon as this week.