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.

July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.

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

Food prices rose 2.7% on an annual basis last month, the same as the overall inflation rate. Items that have seen big cost increases since last July include eggs, which are up 16.4%; roasted coffee, up more than 14.8%; and ground beef, which is up 11.5%.

The July CPI report shows that tariffs are having a slight impact on inflation, though not enough to keep the Fed from cutting interest rates.

(Bloomberg) -- Here are the key takeaways from the July US consumer price index report, released Tuesday:

The Bureau of Labor Statistics reported the July consumer price index which showed CPI inflation continued to rise as tariffs push prices higher for U.S. businesses and consumers.

Following the release of July's consumer-price index, one thing seems likely to be getting clearer: It will take a lot more accelerating inflat