Wholesale prices were unchanged in June and showed only a mild effect from U.S. tariffs, adding to the growing view that trade wars won’t lead to a big increase in inflation.

The U.S. economy is grappling with inflationary pressures as consumer prices surged in June. This trend is expected to worsen as President Trump's tariffs take full effect, impacting the cost of goods and complicating monetary policy decisions.

U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.