US Inflation data: Consumer prices jump to 2.7% in June; Fed rate cut in doubt as Donald Trump faces pressure

U.S. inflation climbed to 2.7% in June, marking the highest level since February, driven by rising costs for gas, food, and groceries. This increase reverses months of cooling inflation and exceeds May’s 2.4% rise. The inflation spike presents a political challenge and may deter the Federal Reserve from cutting interest rates.