July CPI rises with tariffs, inflation surpasses expectations

by MarketNewsData

Economic Update: Inflation Trends Under President Trump

  • Inflation rose in July, moving further from the Federal Reserve’s target rate as policymakers evaluate the economy amid calls for interest rate cuts from President Donald Trump.
  • The Bureau of Labor Statistics reported a 0.2% increase in the consumer price index (CPI) from June, and a 2.7% rise compared to July of the previous year.
  • The monthly CPI increase matched economists’ expectations, but the annual figure was slightly lower than the predicted 2.8%.
  • Core prices, excluding volatile food and gas prices, increased by 0.3% from the previous month and 3.1% year-over-year, surpassing economists’ expectations for the annual figure.

    This situation highlights ongoing economic challenges as inflation persists, necessitating close monitoring of future developments.

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