By Howard Schneider WASHINGTON (Reuters) -Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher in June in what economists see as evidence of the Trump administration's increasing import taxes passing through to consumers.

The latest Consumer Price Index (CPI) data came in hotter than expected, with inflation rising 2.6% in June, higher than the 2.4% seen in May but lower than the 2.7% economists expected. Investors weigh whether President Trump's tariff policy is fueling inflation in the US economy and what it means for the Federal Reserve.

Tuesday's mixed CPI report has further solidified expectations that the Fed will continue to hold interest rates steady. Read more here.

The June inflation data is likely to keep Federal Reserve officials cautious, open to cutting interest rates later this year without committing to any course of action. The consumer-price index wasn’t

The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.

June's uptick in consumer prices likely gives the Fed room to stay on hold as uncertainty over tariffs clouds the timing of its next rate cut, according to economists.

Initial early gains following the June data were reversed as pass-through effects from tariffs stoke concerns.

Businesses across the economy are passing increased input costs from tariffs along to consumers in the form of higher prices, the Federal Reserve’s latest anecdotal survey of domestic economic

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.