June’s inflation rise fastest in six years
Consumer prices rose in June from a year earlier at the fastest pace in more than six years, lifted by more expensive gas, car insurance and higher rent. The Labor Department said Thursday that the consumer price index ticked up 0.1 percent in June. But inflation jumped 2.9 percent from a year earlier, the largest annual gain since February 2012.
Price gains may intensify if President Donald Trump makes good on his threat Tuesday to slap tariffs on $200 billion of Chinese goods, including furniture, hats and handbags. If implemented, those duties would mean about half of China’s imports would be subject to extra duties, likely boosting costs for consumers.