P resident Donald Trump responded to the acceleration of consumer price inflation with a renewal of his demand for the Federal Reserve to cut interest rates immediately.

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

Markets across Asia exhibited a mixed trend on Wednesday, reacting to a confluence of factors including new US trade policy, surging US inflation data, and persistent tariff threats from the Trump administration.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

The latest inflation data suggests that President Donald Trump's tariffs may already be having an impact on the finances of working-class families. In a Tuesday article for Axios, journalists Courtenay Brown and Neil Irwin reported on Consumer Price Index (CPI) data from June that was just released this week,

The Bureau of Labor Statistics on Tuesday released June inflation data, showing prices increased from the prior month. Hours later, President Trump called on the Fed to lower rates.

Core inflation — which strips out energy and food prices, which can be volatile categories — was up 2.9% in June. The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics.

Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.