Inflation rose last month to its highest level in four months as the cost of gas, food, and groceries rose, reversing several months of cooling price pressures. Consumer prices rose 2.7% in June from a year earlier,

The US economy is expected to slow the rest of the year as tariffs take a bigger toll on consumers and businesses, immigration constraints intensify

Follow the latest news headlines from Australia's most trusted source. Read in-depth expert analysis and watch live coverage on ABC News.

US consumer inflation picked up in line with analyst expectations in June, government data showed Tuesday, with vehicle costs cooling over the month but increases seen in sectors exposed to President Donald Trump's widening slate of tariffs.

As Trump downplays the new inflation numbers by venting at the Fed (even as his pollster delivers very bad news), an economist explains how he’s put us on a slow downward slide that will get much, much worse.

UBS expects the US economy to slow significantly in 2025, projecting real GDP growth to fall to around 1%. In a note to clients issued Tuesday, the bank pointed to a combination of fading fiscal support, elevated interest rates, and persistent inflation as key drivers of the expected deceleration.

Rider Levett Bucknall’s Q2 2025 report reveals construction cost inflation has eased to 4.4% year-over-year, offering more stable ground for budgeting and investment.