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,

Inflation picked up steam last month amid early signs that President Trump's tariffs are beginning to have an effect on the prices shoppers see in stores.

Inflation likely accelerated in June as sweeping tariffs on nearly all imports may have pushed up prices for electronics, appliances, and other goods, economists forecast.

Canada's annual inflation rate rose to 1.9% in June, meeting analysts' expectations, as increases in the price of automobiles and clothing and footwear pushed the index higher, data showed on Tuesday.

The dollar index is losing momentum near a three week high on Tuesday ahead of US Consumer Price Index (CPI) inflation data, which is due later today. Moreover, Chicago Fed President Austan Goolsbee said that fresh tariffs unveiled by Trump have further muddied the inflation outlook,