The closely watched Consumer Price Index rose less than expected in July, and President Donald Trump’s tariffs had little impact on the overall data, says a top U.S. economist.
According to the Bureau of Labor Statistics, the headline annual inflation rate held steady at 2.7 percent and rose at a seasonally adjusted pace of 0.2 percent for the month.
Economists penciled in readings of 2.8 percent and 0.2 percent, respectively.
Core inflation, however, accelerated to a slightly higher-than-expected 3.1 percent on a 12-month basis, the highest since February. The monthly core rate increased by 0.3 percent, the most significant jump since the start of the year….