> What specifically happened in June to set this off?

Tariffs implemented by this administration:

  "Inflation has begun to show the first signs of tariff 
  pass-through," said Ellen Zentner, chief economic 
  strategist at Morgan Stanley Wealth Management. "While 
  services inflation continues to moderate, the acceleration 
  in tariff-exposed goods in June is likely the first of 
  greater price pressures to come. The Fed will want to hold 
  steady as it awaits more data."[0]