Policymakers and business leaders will closely watch the release of inflation data on Tuesday, marking the latest look at price increases as the economy risks a tariff-induced rise of inflation.

The inflation report is the first major data release from the U.S. Bureau of Labor Statistics (BLS) since Trump fired the agency's commissioner earlier this month, just hours after the release of a weak jobs report.

Price increases have sped up over the past two months, including a jump in the cost of commonly imported products like clothes, furniture and toys. Tariffs modestly contributed to the uptick in overall inflation, analysts previously told ABC News.

Economists expect prices to have risen 2.8% in July compared to a year earlier , which would amount to a slight uptick from 2.7

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