The ASX200 finished 0.8 per cent lower after US data showed inflation ticked up again in June as tariffs took hold, reducing the odds of a rate cut.

Open this photo in gallery: The elimination of the consumer carbon price is expected to keep the headline inflation figure lower over the next 10...

Open this photo in gallery: The elimination of the consumer carbon price is expected to keep the headline inflation figure lower over the next 10...

The ASX200 was up 0.6 per cent at lunchtime after Federal Reserve minutes indicated a US rate cut in 2025 remains on the table.

The ASX200 was up 0.6 per cent at lunchtime after Federal Reserve minutes indicated a US rate cut in 2025 remains on the table.

US inflation jumped last month as President Donald Trump's tariffs took hold, pushing up prices for items from clothing to coffee.

US inflation jumped last month as President Donald Trump's tariffs took hold, pushing up prices for items from clothing to coffee.

The ASX200 was down 0.2 per cent at midday, as the Trump administration again pushed back the timing of when new tariffs will come into effect.

The ASX200 was down 0.2 per cent at midday, as the Trump administration again pushed back the timing of when new tariffs will come into effect.

The ASX200 finished down 0.1 per cent as markets mulled whether Donald Trump might really impose 30 per cent tariffs on Europe.