(The Center Square) – As President Donald Trump’s tariff policies come into effect, July’s Consumer Price Index showed overall consumer prices rose 2.7% annually, slightly lower than forecasted by economists. The CPI measures changes in price of everyday consumer goods like groceries and clothes over time. July’s CPI rose 0.2% on a monthly basis since June’s reading which came in at 2.7%. Since a universal 10% tariff was implemented in April, economists have been watching how levies would affect costs for consumers. Data has shown that tariff impacts have been marginal so far this year, in part due to businesses stockpiling goods before tariffs went into effect.

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