US consumer prices rose 2.7% in June, exceeding May's 2.4% rate. This increase aligns with economists' predictions and follows warnings from retailers about potential price hikes due to Trump's tariffs. While egg prices cooled, overall inflation remains above the Federal Reserve's 2% target. The Fed expects inflation to reach 3% by 2025, a forecast disputed by Trump's economic advisor. Despite the rising inflation, the Fed is expected to hold interest rates steady at its upcoming meeting.

Prepared by Christopher Adams and reviewed by editorial team.