Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.

Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

Annual inflation rose to 2.7% in the June quarter, below expectations of just under 3%. Consumer inflation is not as hot as originally feared, putting weight behind further interest rate cuts to support the economic recovery.

Current tariff collections equate to 0.1% monthly inflation, aligning with recent CPI data. See why I’m skeptical that tariffs will lead to widespread inflation.

U.S. equity funds again came under selling pressure through the week to July 16, dampened by worries over President Donald Trump's tariff rhetoric and the buildup in inflationary pressure, potentially keeping the Federal Reserve cautious about a premature rate cut.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

Inflation is moving higher and the impact of tariffs are only beginning to show up in government data, likely keeping interest rates on hold.

A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.

A new report found inflation on the rise in June, another indicator of the affect Donald Trump's tariffs are having on the US economy.