Where is all the inflation that was supposed to arise from the Trump tariffs? So far there’s hardly been any whiff of big price increases. Just wait, economists insist. It’s coming.

Despite widespread fears to the contrary, President Donald Trump’s tariffs have yet to show up in any of the traditional data points measuring inflation

At the same time, the Bureau of Labor Statistics this week reported that both producer and consumer prices increased just 0.1% on a monthly basis, pointing toward little upward pressure from the duties. Economists still largely expect the tariffs to show an impact in the coming months.

U.S. consumer sentiment improved for the first time in six months in June as trade tensions between the U.S. and China eased, but households worried about the economy's trajectory.