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Inflation picks up in June as Trump's tariffs start to impact prices

President Trump's tariffs are starting to show up in the prices that consumers pay. That contributed to an uptick in inflation last month and will make the Fed cautious about cutting interest rates.

Copyright 2025 NPR

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
Steve Inskeep is a host of NPR's Morning Edition, as well as NPR's morning news podcast Up First.