New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

Apparel, which had seen cool inflation the last 2 months, grew 0.4% in June. Household furnishings grew 1%. Video & audio electronics grew 1.1%.” Justin Wolfers, a University of Michigan business school professor who is relentless about criticizing Trump’s policies,