The figure for June marks the steepest increase in inflation, which measures how quickly prices are rising, since January 2024.

Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

Cooling inflation in India and tariff-induced price pressures in the U.S. are cementing a downward bias on dollar-rupee forward premiums, according to analysts.

UK inflation unexpectedly rose to its highest level since January 2024 as food prices jumped, keeping some pressure on the Bank of England as it looks to continue dialing down interest rates.

In the bond market, the U.S. 10-year Treasury yield was down less than 1 basis point to 4.49%. Germany's 10-year yield was up 1 basis point to 2.72%. UK's 10-year yield was up 4 basis points to 4.67%, its highest in six weeks, after June inflation came in above expectations at 3.6%.