The Labor Department’s consumer price index for June is expected to show that overall inflation rose 2.6 percent from June 2024. That’s up from a 2.4 percent pace in May.

Economists have long been warning of a tariff-driven boost to US inflation. The next report on consumer prices will put their conviction to the test.

Consumer inflation likely accelerated in June, as the Trump administration's tariffs start to push up prices. The Labor Department's consumer-price index for last month is due at 8:30 a.m. ET. Year-over-year inflation likely picked up to 2.