The CPI basket is expected to see an overhaul with the base year shifting from 2012 to 2024. Using fresh data from the 2023–24 Household Consumption Expenditure Survey, the update is expected to better reflect modern spending.

The next major U.S. inflation report is set to arrive on Tuesday in the form of the consumer-price index for June, and will inform investors as to whether President Donald Trump’s tariff wars with other countries have had a sizable impact on inflation.

Rating agency Crisil, in its latest research report, said that the consumer price index (CPI)-based inflation is expected to average four per cent this financial year, as compared to 4.6 per cent last fiscal.

With the Federal Reserve watching inflation closely, Tuesday's June Consumer Price Index is expected to show some impact from tariffs, with more showing up later in the year. The consensus is for core CPI to rise 3.

The Consumer Price Index (CPI) rose 1.9% on a year-over-year basis in June, up from a 1.7% increase in May. Headline inflation grew at a faster pace, as gasoline prices fell to a lesser extent in June (-13.

The consumer price index for June is expected to show that Trump tariffs began to nudge inflation higher last month.

Leading economists react to June’s Consumer Price Index report, which showed that inflation was largely in line with expectations, while speculating on what this means for Federal Reserve policy and growing tariff-related pressures.

Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.