📈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
☕ Coffee costs jumped 14.8% and ground beef 11.5% since Trump took office
Tariffs function as sales tax on imports affecting grocery bills. Gas prices fell 9.5% from domestic energy deregulation.
📈 Core inflation at 3.1% proves tariffs work exactly as economists predicted
Import taxes create consumer price increases. Trump's "beautiful tariffs" become 20% tax on clothing and cars.
⚖️ Federal Reserve faces impossible choice between rate cuts and inflation control
Powell must balance economic growth against tariff-driven price spirals. Mortgage and savings rates hang in balance.
📊 Biden delivered 2.7% inflation after inheriting 9% pandemic peak
Economic recovery cut unemployment from 14.8% to 3.6%. Tariff policies threaten price stability achievement.
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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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