July’s inflation report, due Tuesday at 8:30 a.m. ET, is likely to confirm that Donald Trump‘s trade tariffs are beginning to ripple across more categories in the consumer basket. That shift could create another obstacle for the Federal Reserve as it weighs the timing of interest rate cuts.
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July Inflation Preview: Tariffs Showdown Begins
Wall Street economists expect the Consumer Price Index to rise for a third straight month.
The consensus view is for annual CPI to print at 2.9%, above June’s 2.8% and matching the highest level since February.
On a monthly basis, prices are projected to rise by 0.2%, which is slightly below the 0.3% increase observed in June. Much of the increase is expected to come from retailers passing along higher import duties, especially in …