Recent data indicates that US inflation has ticked higher, with a notable increase reported in June. The core Personal Consumption Expenditures (PCE) inflation gauge, favored by the Federal Reserve, showed a rise to 2.6%, reflecting pressures from tariffs instituted during the previous administration. Consumer spending also saw a moderate increase of 0.3%, but inflationary pressures from goods prices are likely to impact economic forecasts, casting uncertainty on potential rate cuts by the Fed. With higher tariffs filtering into consumer prices, analysts are closely monitoring how this affects future monetary policy decisions.