Key Takeaways From July’s Consumer Price Index Report

‘Tariffs have had limited effects on inflation so far,’ says a chief economist at Comerica Bank.

A promotional price label for apples at a Smart&Final store in San Diego on March 24, 2025. Jane Yang/The Epoch Times

The closely watched Consumer Price Index rose less than expected in July, and President Donald Trump’s tariffs had little impact on the overall data, says a top U.S. economist.

According to the Bureau of Labor Statistics, the headline annual inflation rate held steady at 2.7 percent and rose at a seasonally adjusted pace of 0.2 percent for the month.