Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.

On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,

The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices.

Economic experts say the Federal Reserve is unlikely to cut rates despite President Donald Trump's demands due to uncertainty from tariff hikes.

The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment.