Falling gas prices helped keep overall inflation tame in July; however, a broader array of products got even more expensive last month, showing that President Donald Trump’s expansive tariffs are being passed along to consumers.

The Labor Department’s consumer price index for July showed that the annual pace of inflation remained at 2.7 percent from July 2024. That’s the same as the annual rise reported in June and above April’s post-pandemic low of 2.3 percent, though it was just under economists’ expectations.

U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago.

The Big Money Show' panel discusses President Donald Trump's reaction to Wall Street's bad tariff predictions.

President Donald Trump called for Goldman Sachs CEO David Solomon to replace its chief economist after a prediction that consumers would pay the brunt of the cost for tariffs.

Days after Goldman Sachs’ top economists published research claiming price increases stemming from higher tariffs are poised to soon be borne mostly by consumers, President Donald Trump is urging the bank’s CEO,