US inflation heated back up in June, rising to its highest level in four months, as price increases — including those from tariffs — packed a bigger punch. Consumer prices rose 0.3% last month,

By Howard Schneider WASHINGTON (Reuters) -Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher in June in what economists see as evidence of the Trump administration's increasing import taxes passing through to consumers.

The Dow fell 436 points. Nvidia rallied on easing export restrictions.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Progress in bringing down the rate of inflation has halted, at least for now. But even with June’s boost in price growth, economists expect the full effects of higher tariffs to push inflation even higher in the coming months.

Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

One of the central criticisms of the U.S. government’s response to the global financial crisis in 2008, and to the Federal Reserve’s decision to embark on its maiden round of quantitative easing, was that it would lead to hyperinflation.