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Inflation steady in July as Trump tariffs loomed

Consumer prices rose 0.2 percent in July, according to data released Tuesday by the Bureau of Labor Statistics (BLS), as the economy braces for President Trump’s full tariffs.

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The latest reading of the consumer price index (CPI) showed monthly and annual inflation plateauing as declining gasoline prices wiped out increases in the costs of medical care, airfares, household furnishings and a wide range of other goods and services.

Prices rose 0.2 percent on the month and 2.7 percent over the past year, according to the BLS, in line with June levels.

But core inflation — which strips out volatile food and energy prices — came in at 0.3 percent higher over the past month and rose 3.1 percent over the past year.

The July

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