The Bureau of Labor Statistics (BLS) reported a 0.2% increase in consumer prices in July, as the economy braces for President Trump’s full tariffs. The latest reading of the consumer price index (CPI) showed monthly and annual inflation plateauing, with declining gasoline prices excluding increases in medical care, airfares, and household furnishings. Prices rose 0.2% on the month and 2.7% over the past year, in line with June levels. Core inflation, which excludes volatile food and energy prices, rose 0.3% over the past month and 3.1% over the past year.
In July, inflation remained steady due to the looming Trump tariffs.
