Inflation came in mostly in line with expectations in June, with price pressures firming on a yearly basis as investors look for signs that President Trump's tariffs may be starting to work their way through to consumers.

Inflation ticked higher in June, according to new government data released Tuesday, as investors continued to look for signs that President Trump’s tariffs may be starting to work their way through to consumers.

The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.7% on an annual basis in June, an uptick from May’s 2.4% gain, driven by a reversal in falling gas prices. Economists had expected headline inflation to come in at 2.6%.