New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

President Donald Trump is keeping up the pace with seemingly a new tariff development every day. This time, he flagged that levies are coming on pharmaceuticals as soon as the end of the month and semiconductors could be next.

Apparel, which had seen cool inflation the last 2 months, grew 0.4% in June. Household furnishings grew 1%. Video & audio electronics grew 1.1%.” Justin Wolfers, a University of Michigan business school professor who is relentless about criticizing Trump’s policies,