The prices of consumer goods recorded their biggest increase in five months in the US in June, suggesting that tariffs are starting to have an impact on inflation.

The inflation continued to rise in June, with the consumer price index (CPI) reaching 2.7% year-on-year, up from 2.4% in May, which analysts had expected.

Every month, the increase was 0.3% in June, up from 0.1% in May, due to energy costs, the Labor Department said.

Excluding food and energy prices, which are considered volatile, the CPI rose 0.25% month-on-month to 2.9% year-on-year.

June was marked by the twelve-day war between Israel and Iran, an event that sent the price of oil soaring, which remains at high levels. There was also a sharp increase, from one month to the next, in the price of electricity and gas. A small increase was recorded in the prices of food and health services.

President Donald Trump, however, insisted again today that prices of consumer goods are low and once again urged the Federal Reserve to cut interest rates. Consumer prices are low. Lower interest rates, now!” he wrote in a post on the Truth Social platform.

Earlier, Democratic Senator Elizabeth Warren criticized “those who say they don’t see the consequences of Trump’s trade wars” and urged them to “look at the facts of the day,” expressing fears that families will suffer “while the president makes it even harder.”