📈July CPI shows inflation climbing as Trump tariffs hit consumer prices
Economy
Tax & Budget
Trade & Commerce
Today's Consumer Price Index report reveals inflation at 2.7% annually with core inflation accelerating to 3.1%—the fastest pace in five months. Trump's tariffs are starting to affect consumer costs, with coffee up 14.8% and ground beef up 11.5% since last year, while airline fares jumped 4% in July alone. The data shows how Biden's economic recovery from pandemic lows transitioned into Trump's tariff-driven price increases that hit working families hardest.
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Why This Matters
Your grocery bill reveals who controls economic policy
Coffee costs jumped 14.8% and ground beef 11.5% since Trump took office, while gas prices fell 9.5%—tariffs hit imports while domestic energy benefits from deregulation.
Core inflation at 3.1% signals tariffs are working exactly as economists predicted
When you tax imports, consumers pay higher prices—Trump's "beautiful tariffs" function as a 20% sales tax on everything from clothes to cars.
Biden delivered 2.7% inflation after inheriting 9% peak from pandemic chaos
The economic recovery cut unemployment from 14.8% to 3.6% and stabilized prices, but Trump's tariffs threaten to reignite inflation that hurts working families most.
Federal Reserve faces impossible choice between rate cuts and inflation control
Powell must decide whether to cut rates to boost growth or hold steady to prevent tariff-driven prices from spiraling—your mortgage and savings account hang in the balance.
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What was the peak inflation rate Biden inherited when he took office in January 2021?
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How much did the federal deficit decrease under Biden's presidency?
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What percentage of GDP growth did the U.S. economy average under Biden?
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By what percentage did manufacturing jobs increase under Biden's presidency?
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What was the unemployment rate when Biden left office in January 2025?
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How much did Biden's infrastructure legislation authorize in spending over 10 years?
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According to today's CPI report, by what percentage have coffee prices increased since Trump's tariffs began?
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Ground beef prices have increased by what percentage under Trump's tariff policies?
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Airline fares jumped by what percentage in July 2025 alone due to tariff-related cost increases?
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What percentage did gasoline prices fall despite other tariff-driven increases?
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Goldman Sachs economists predict monthly core CPI inflation will stay between what range due to ongoing tariff effects?
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What is the current July 2025 headline inflation rate according to today's CPI report?
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What economic scenario are investors most worried about due to Trump's tariff policies?
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