US prices continued rise in July as Trump tariffs impact consumer costs

Prices were 2.7% higher last month compared with a year ago, and core inflation went up at a higher pace than what was seen in June

US prices continued to rise in July, according to key economic data released on Tuesday, as Donald Trump's international tariffs shakeup started to impact consumer costs.

Prices were 2.7% higher last month compared with a year ago, according to the consumer price index (CPI), which measures the prices of a basket of goods and services. Though inflation dipped down in the spring, the annualized inflation rate jumped up 0.4% since April.