Trump, Inflation and June
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Japan's core inflation cools
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Japan’s inflation in June gives the Bank of Japan few reasons for immediate cheer. Headline and core inflation decelerated, even as supply-driven food price pressures remained high. Services price inflation, meanwhile, is stubbornly low, indicating that the “wage-price virtuous circle” is still not playing out in the economy.
The report on producer prices adds to a mixed picture for inflation as the economy adjusts to the imposition of import tariffs.
Factory-gate prices held steady in June, surprising economists. The producer-price index was flat last month, the Labor Department said, missing forecasts for a 0.2% rise. The index rose by a revised 0.
Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and
Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher.
One month doesn’t make a trend, but there are worrying signs in the labor market and inflation data.
Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.
The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics. However, the full impact of President Donald Trump's tariffs is still to come,
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