Inflation ticked up in June, here's where prices rose most
CBS America · New
CBS America
New
The Consumer Price Index, which tracks the changing costs of goods, rose in June for the second month in a row. Kelly O'Grady breaks down what that means.
Breakdown
- The Consumer Price Index rose 2.7 percent from the previous year, marking a second consecutive monthly increase. 6s
- Shelter costs were the largest contributor to the inflation rise. 22s
- Imported goods like apparel, home furnishings, and appliances saw notable price increases due to tariffs. 31s
- Tariff revenue collected by the Treasury increased by 300 percent compared to the previous year. 54s
- A new 17 percent import tax on tomatoes from Mexico is expected to raise food prices further. 1m 35s