Inflation rose to 2.7% year-over-year in June

Inflation rose to 2.7% year-over-year in June, in line with analysts' expectations, due to the impact on prices of the tariffs announced by President Donald Trump, the Labor Department reported Tuesday.

In May, the annualized consumer price index (CPI) was 2.4%.

The rise was also recorded in the monthly index, 0.3% in June versus 0.1% in May, especially due to energy prices, something that was expected by analysts.

Trump imposed a 10% across-the-board tariff on virtually all of the country's trading partners in April, and also announced sectoral tariffs on steel, aluminum and automobiles. Analysts have warned of the effect such taxes could have on inflation.

The price index

Excluding volatile food and energy prices, the price index rose 0.2% on a month-over-month basis and 2.9% on a year-over-year basis.

In the month of June, there was a sharp increase in oil prices, due to the conflict between Israel and Iran. In the energy sector, there were also significant increases in electricity and gas prices compared to May.

American consumers are also facing slight increases in the prices of food, healthcare and housing, one of the main drivers of the persistent inflation of recent months.