In July, the consumer price index rose 2.7% on an annual basis, slightly cooled compared to economists.
In number
According to economists voted by the financial data firm factset, the CPI was expected to increase by 2.8% last month.
Depending on the month of one month, the CPI increased 0.2%, in line with economists forecasts.
CPI, a basket of goods and services, usually purchased by consumers, tracks the changes in prices over everyday objects such as food and apparel over time. So far this year, inflation has been 3% or less. June CPI Reading 2.7%.
The so -called core inflation, a remedy or CPI that has increased 3.1% in the last 12 months, except for food and energy prices (which is more unstable), the highest level in five months. Economists voted by the factset predicted an increase of 3% for that measure.
Last month, food prices rose 2.7% on an annual basis, which is the same as overall inflation rate.
Items that have seen Large cost increases Since last July, roasted coffee, more than 14.8% and ground beef, which is 11.5%. Egg prices have declined by 3.4% from June to July, but still 16.4% from last year.
Food away from home, which tracks the price of restaurants and other eateries, increased 3.9% in the last one year.
Meanwhile, gasoline prices fell 9.5% in July a year earlier in July, showing CPI data.
What do experts say about the effect of tariff
Economists are closely looking to determine how tariffs can trick through CPI data. For the first several months of the year, the effect appeared limited, but June reading Indicated that levy may begin to increase prices in some categories such as apparel, household items and equipment.
More than 60 countries and European Union goods are now subject to one New round of mutual tariff It came into force on 7 August.
The data of today’s CPI report shows that the cheap gas at the rate of cost is removing some effects of President Donald Trump’s widespread tariffs at a slow pace.
The main global strategist is a major asset management, CBS News after the release of today’s CPI report in an email, CBS News stated in an email, “There are some signs of tariff pass through consumer prices, but at this stage, it is not enough to ring the alarm bells.”
During a call with the media yesterday, Elon Deitmister, an economist at UBS, said the investment bank hopes that consumers will start looking at the direct effects of tariffs earlier this year or early next year.
“It is possible that these tariff-inspired price growth are the one-time price level shocks that will begin to come in the beginning of the next year,” the deitymistor said. “We think they are going to be very permanent.”
What can meant inflation data to cut fed rate
Analysts say the possibility of cutting a fed rate in September is still on the table.
“Although the core annual inflation has returned to its highest level since February, today’s CPI print is not hot enough to derail the fed from cutting the fed in September,” Shah said.
The mandate of the Fed is to maintain maximum employment by reducing prices. Otherwise, country What is said what is said – Which occurs when high inflation is combined with high unemployment.
The factset gives 88% probability of rate cuts in the meeting, which is scheduled from 16 to 17 September.
Contributed to this report.
