Golden Finance reports that Wells Fargo states that the U.S. CPI data will further indicate that higher tariffs have pushed up prices. The bank wrote: 'We are still in the early stages of the price adjustment process, and it is unclear how higher import taxes will ultimately be distributed among end customers, domestic sellers, and foreign exporters. Meanwhile, consumers' fatigue is increasingly intensifying, making it generally more difficult to raise prices.' Looking ahead, Wells Fargo expects inflation to recover in the second half of this year, but it will not rise significantly, with core CPI and core PCE deflator returning to around 3% in the fourth quarter.