The inflation rate is inching higher, with Wall Street expecting tariffs to increase prices throughout the remainder of 2025.

President Trump told reporters this week that he would send letters to trading partners in the next week or two setting unilateral tariff rates. “At a certain point, we’re just going to send letters out.

The Consumer Price Index rose 2.4 percent in May, from a year earlier, a reading that reflects only the initial impact of President Trump’s tariffs.

U.S. economic growth is likely to "slow markedly" this year and next, due to tariffs and uncertainty under the Trump administration.

Reports on consumer and wholesale inflation headline the week’s economic data as tariff negotiations between the U.S. and China begin.

The Federal Reserve is widely expected to hold interest rates steady next week, with investors focused on new central bank projections that will show how much weight policymakers are putting on recent soft data and how much risk they attach to unresolved trade and budget issues and an intensifying conflict in the Middle East.

Consumer prices in the US rose less than anticipated in May, with limited evidence so far that President Donald Trump's tariff measures have had a material impact on inflation.