Economists expected inflation to pick up in July, in part because tariffs on imported goods were resulting in higher prices for some toys, home furnishings, appliances and tools.
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Inflation holds steady, but Trump’s tariffs are boosting some prices
ts got even more expensive last month, showing that President Donald Trump’s expansive tariffs are being passed along to consumers. Consumer prices rose 0.2% in July, keeping the annual inflation rate at 2.7%, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics.
