Is the tire hitting the brake/frame - or the rim? If its just the tire, pump it up and the problem should go away. (if it doesn't and your tire has a bulge, you will need a new tire ASAP)
If its the rim hitting, then the wheel is out of true, but don't worry, even a rim out of true enough to hit the frame isn't necessarily ruined. Your lbs should be able to true it.
p.s. Do you have presta (thin) valves or schrader (thick)? I'm guessing presta. if you can't get any air into the tire make sure you've unscrewed the valve. When people first get presta tubes its pretty common to not know that you've got to unscrew the tiny brass nipple at the end of the valve stem. If you've done that and you still can't get air to go in, next step is to break the seal, but pressing down and letting a little air out before you start trying to pump them up.



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