Inflation, tariffs
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A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.
Federal Reserve governor Adriana Kugler said the Fed should hold interest rates steady for a while to come, because new trade barriers are likely to spark more inflation in the months ahead. Speaking at a housing conference in Washington,
Consumer costs for apparel dropped 0.5% year-over-year in June, according to the BLS. But some items registered modest price hikes, including men’s shirts and sweaters, which rose 4.3% from May, women’s dresses increased 3.9%, and women’s swimwear increased 1.6%.
A changing pricing environment and renewed social inflation worries will be among the focal points for US property and casualty insurers when they release second quarter results.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
The Bureau of Labor Statistics reports a 0.3% increase in the consumer price index last month, raising the annual inflation rate to 2.7%.
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