The Consumer Price Index rose slightly less than expected in July annually as tariffs showed only a slight influence on prices. Tariffs didn't give much boost.

The core Consumer Price Index picked up to 3.1% Y/Y in July, its highest level since February, exceeding the 3.0% consensus and the +2.9% pace in June, according to data released by the Bureau of Labor Statistics on Tuesday.

Inflation held steady in July as tariffs threatened to drive prices higher, CPI report reveals. But an underlying inflation measure picked up

According to the Bureau of Labor Statistics, U.S. consumer prices rose 2.7% in July compared with a year earlier, matching the annual pace recorded in June. So, what does this mean

The CPI, a basket of goods and services typically bought by consumers, tracks the change in prices on everyday items such as food and apparel over time. So far this year, inflation has stayed at 3% or lower.

Wall Street expected the impact of Trump tariffs to be a bit more mild in July, after CPI inflation data for June showed a 0.5% jump in core goods prices, excluding autos, which was the biggest increase in two years. Intel INTC is leading the S&P 500 early Tuesday after CEO Lip-Bu Tan got a vote of confidence from President Trump.

Investors tend to watch the consumer-price index for insight into how prices are affected by inflation. And when investors are focused on inflation and changes in the Fed's rate policy, the CPI report has the potential to move markets.

The Producer Price Index (PPI) for final demand rose 0.9% in July, marking its largest monthly increase since early 2022. The annual PPI increase r