KEY POINTS

U.S. annual inflation held steady in July, according to a new Labor Department report.

Core inflation, however, rose with biggest monthly increase since January.

Tariff impacts on consumer prices were nominal last month.

A Tuesday report from the Labor Department shows overall annual inflation held steady in July even as prices on consumer goods and services moved up slightly on a monthly basis.

Impacts from a raft of new international trade tariffs implemented by President Donald Trump are, so far, having only minimal impacts on U.S. household budgets.

The Bureau of Labor Statistics Consumer Price Index for July pegs annual inflation at 2.7%, matching June’s annual rate even as prices rose 0.2% on a monthly basis. Core CPI inflation, a metric that strips out volatile fo

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