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Annual inflation stood at 2.6% in June

The official PCE index was released Thursday, hours before new tariffs on imports were set to take effect.

File image of American consumers

File image of American consumersAFP

Virginia Martínez
Published by
Virginia Martínez

The official Fed benchmark PCE index reported that inflation continued to rise in June, when it stood at 2.6% on a 12-month basis. The report was released Thursday, hours before new tariffs on imports were set to go into effect.

Twelve-month inflation in May stood at 2.4%.

Core inflation, which excludes the more volatile food and energy sectors, reached 2.8% last month.

Interest rates

The data comes the day after the Federal Reserve decided to hold interest rates steady for the fifth consecutive meeting, between 4.25% and 4.5%, despite pressure from President Donald Trump to lower them.

The Trump administration imposed universal tariffs of 10% in April, plus additional duties on imports of steel, aluminum and automobiles.

As of this Friday, new customs tariffs should go into effect for most U.S. trading partners.

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