Tube4vids logo

Your daily adult tube feed all in one place!

Huge blow to Trump's economy as prices leap for everyday Americans

PUBLISHED
UPDATED
VIEWS

Americans felt a sting at the grocery store last month. 

Overall inflation hit 2.7 percent in June compared to a year earlier, the Labor Department said Tuesday. 

That is 0.3 percent higher than last month's 2.4 percent reading

Core inflation — which cuts out volatile food and energy prices — also saw an uptick to 2.9 percent.  

The uptick comes at a politically sensitive time for President Donald Trump, whose administration has clashed repeatedly with Federal Reserve Chair Jerome Powell over interest rates

Powell has warned that cutting rates too soon could fuel inflation — and with prices still rising, the case for a late-term rate cut just got tougher. 

The rises also come as American consumers face a new barrage of tariffs from the administration

Experts have warned DailyMail.com for months that the President's signature economic policy could shock prices upward. 

Energy prices rose 0.9 percent in the past month as warring tensions in the Middle East peaked.  

Food prices were also amont the hardest hit last month, with food prices rising another 0.3 percent, matching May's grocery increase. 

Coffee drinkers had saw the largest yearly increase. Prices for a cup of joe jumped 2.2 percent. 

Comments