Consumer inflation likely accelerated in June, as the Trump administration's tariffs start to push up prices. The Labor Department's consumer-price index for last month is due at 8:30 a.m. ET. Year-over-year inflation likely picked up to 2.

Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

Consumer Price Index (CPI) report will be released on the morning of Tuesday, July 15. Yahoo Finance Senior Reporter Allie Canal breaks down what Wall Street is watching for in the key data release. To watch more expert insights and analysis on the latest market action,