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Inflation held at 2.7% for the year ending in July in the consumer price index, the Bureau of Labor Statistics reported Tuesday, suggesting that the price pressures from tariffs were not as strong as originally feared.
Forecasters expected inflation to rise for a third straight month to 2.8%.
Yet the report contained some signs of underlying inflationary pressure. Core inflation, a measure that strips out the volatile categories of food and energy prices, rose two-tenths of a percentage point to 3.1%, higher than expected. For just the month, core prices were up 0.3%, the largest monthly increase of the year so far.
