If you change the tire diameter, it has virtual effects on the Final Drive Ratio. The tire rpm is less for the same speed, just as if you had changed the axle ratios or gear ratios in the transmission.
Taller Tire = Taller FDR, so it will reduce acceleration performance a bit, might improve fuel efficiency a bit.
As already stated, that throws off speedometer and odometer. It can throw off the EPS/Traction Control/ABS as well, that measures speed the same way as the Speedo/Odometer, by wheel rpm.
Greater tire diameter results in slower tire rpm for the same speed, thus meaning slower engine rpm for the same speed. Usually that would get you better fuel economy, but there are so many factors involved in this and the vehicle's top gear is already optimal for fuel economy with the stock tire size, it is very possible that a taller tire "could" keep you from shifting to higher gear as soon, resulting in worse fuel economy. NOT saying it will happen, just that its possible. The bigger tire is also wider and has more mass, that increases rolling friction and energy to accelerate, that can reduce fuel efficiency as well.