WASHINGTON (Gray DC) – The Bureau of Labor Statistics reported on Tuesday that U.S. consumer prices rose marginally in July by 2.7% (annually), with some signs that President Donald Trump’s tariffs are boosting prices.
The closely watched figure known as the core consumer price index (CPI) hit one of its largest monthly increases of the year, at 0.3%. The index doesn’t include volatile food and energy prices and is seen as a better indicator of longer-term economic trends.
Some analyses have suggested that the inflation report shows that consumers are beginning to see price impacts from the tariffs.
The data was slightly better than what was forecasted, causing stocks to rise early in the day.
White House Press Secretary Karoline Leavitt commented on the report in a statement saying in part:
“Today’s CPI report revealed that inflation beat market expectations once again and remains stable, underscoring President Trump’s commitment to lower costs for American families and businesses.”
The modest inflation impacts appear to be giving investors hope that the Federal Reserve will cut interest rates next month.
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