Financial news has been breaking fast and furious, thanks to President Trump. Over the past week, he has: Escalated threats of sharply higher tariffs on major trading partners that don’t cut trade deals with him by the end of the month.

Tariff revenues surged dramatically, yet so far, there’s been minimal impact on CPI or core goods inflation. Click here for more information on the US Economy.

Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

Egg prices cooled significantly in June, deviating from an overall rise in prices. The price of eggs climbed 27% over the year ending in June, which marked a slowdown from 41% year-over-year growth in May. Under Trump, inflation has defied doomsday predictions and helped to propel sturdy economic performance.

Current tariff collections equate to 0.1% monthly inflation, aligning with recent CPI data. See why I’m skeptical that tariffs will lead to widespread inflation.

Consumer sentiment improved in July as inflation expectations subsided, showing consumers may be less worried about tariffs amid positive economic data.

Rising rents were the main driver of inflation in June. But the price of clothing, appliances and toys also jumped — which likely reflects the effects of import taxes. Clothing prices rose 0.4% while the price of appliances and toys jumped nearly 2%.

A new report found inflation on the rise in June, another indicator of the affect Donald Trump's tariffs are having on the US economy.