"No choice but to raise prices" tariffs squeeze businesses as White House hails inflation data

WASHINGTON —

Inflation remained stable last month, according to new data from the U.S. Department of Labor, and the Consumer Price Index showed consistent price increases in July compared to June.

Karoline Leavitt, the White House press secretary, said, "The America First economic agenda is working." Advertisement

The White House promoted the report, which showed declines in fuel and food prices, and shelter costs growing at their slowest rate since 2021. However, Alex Jacquez, chief of policy and advocacy at Groundwork Collaborative, noted, "I think, clearly you can say: yes, we are seeing an uptick in tariff exposed goods." The report highlighted significant monthly increases in prices for furniture, tires, pet products, and shoes, with more potential increases expected.

Jacquez