U.S. consumer prices likely picked up in June, potentially marking the start of a long-anticipated, tariff-induced increase in inflation that has left the Federal Reserve cautious about resuming its interest rate cuts.

A fresh batch of inflation risks were emerging in July as President Donald Trump escalated his trade war. Copper prices surged, tariff pressures bubbled up in earnings, and even a morning coffee could be getting more expensive.

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 Tuesday.