Yahoo Finance
July CPI report expected to show inflation accelerated amid tariff pressures

Allie Canal · Senior Reporter
Updated Tue, August 12, 2025 at 3:56 AM EDT 3 min read

July's Consumer Price Index (CPI) is expected to show prices rose at a faster clip annually compared to June. The report, due Tuesday at 8:30 a.m. ET, comes as investors stay alert to how much President Trump’s tariffs are starting to affect consumer costs.

According to Bloomberg data, headline CPI is expected to have increased 2.8% year over year in July, up from a 2.7% rise in June. On a monthly basis, prices are forecast to increase 0.2%, a slight slowdown from June’s 0.3% gain, driven by lower gasoline prices and expectations of moderately softer food inflation.

On a "core" basis, which strips out volatile food and energy prices, the annual inflation rate for July is expected to tick up to 3.0% from June’s 2.9%, indicating that rising goods inflation is no longer being offset by easing services inflation.

Core prices are also projected to climb 0.3% month over month, outpacing the previous 0.2% rise seen in June and marking the strongest gain in six months.

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