Inflation accelerated in June. Is the 'tariff shock' finally here

 In recent months, critics of In recent months, critics of President Donald Trump’s tariff campaign have braced for an unwelcome rise in the inflation rate. That moment may have arrived. 

Prices rose 2.7% in the 12 months through June, the Labor Department announced on July 15. It’s the highest annual inflation rate since February, and a sign that Trump’s import taxes may be finally raising consumer prices, as many forecasters predicted. Rising prices for housing, food and gasoline drove the increase.