US consumer inflation held steady in July, with an uptick in underlying price pressures that could spell trouble for President Donald Trump and his promises of an economic boom.

The 2.7 percent consumer price index (CPI) figure was probably not high enough to derail a potential interest rate cut in September, but Trump responded with yet another direct attack on Federal Reserve chair Jerome Powell, whom he blames for not lowering rates fast enough.

In a separate Truth Social post, Trump claimed that "even at this late stage, Tariffs have not caused Inflation."

But analysts warn that the pass-through from Trump's duties is not yet complete.

CPI rose 2.7 percent from a year ago in July, the same rate as in June, said the Department of Labor on Tuesday.

But, excluding the volatile food a

See Full Page