Trump's tariffs have a significant impact on inflation and it may start to show in July.

Data released by the US government this week shows that prices of common imported goods such as furniture, sports equipment, and appliances experienced the largest increase in years in June. However, price decreases in automobiles and certain service categories largely offset these increases, keeping overall inflation rates stable. As inventories deplete and with the impending threat of stricter tariffs by Trump, businesses are facing further price hike pressures. Forecasters still predict that tariffs in the coming months will push inflation higher.