It's inflation data release day again, economists are betting that the Federal Reserve won't make another mistake this time.

Economists have long been warning that tariffs will push up inflation in the United States. The upcoming Consumer Price Index report will test this assessment. After overestimating the CPI readings for four consecutive months, institutions continue to predict that the inflation rate for June, to be announced on Tuesday, will be at a high level. Prices of goods affected by tariffs such as furniture, toys, leisure goods, and cars may accelerate, putting an end to the moderate inflation trend of the past few months. The tepid inflation in the previous months has put the Federal Reserve in a difficult position. The central bank has been defending its steady interest rate policy for the year, citing expectations that tariffs will push up inflation, but this effect has not yet materialized. If the inflation data this time remains moderate, it is almost certain that President Trump will once again express strong dissatisfaction. He has repeatedly called for rate cuts and has frequently targeted Federal Reserve Chairman Powell himself.