Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.

Higher tariffs put in place by the Trump White House this year have started to increase inflation, and these effects are likely to increase in the coming months, New York Fed President John Williams said Wednesday.

Worthington officials say estimates from as long as two years ago have risen, forcing the city to seek new bond funding to keep its original plans.

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

Inflation is up, stocks are down, and more tariffs are on their way. Trump wants interest rates to come down but the direction of travel is making it less likely that the Fed will deliver the cuts he wants. It’s not clear whether Trump can extract himself from the policy cycle he has created.

The Bureau of Labor Statistics reports a 0.3% increase in the consumer price index last month, raising the annual inflation rate to 2.7%.

U.S. inflation reached its highest level since February in June, with consumer prices rising 2.7% from a year earlier, in part because of new tariffs imposed by the Trump administration.