CNN on July Inflation Report: ‘Better than Expected’ Despite Trump’s Tariffs

BOLDUAN All right and ░░░░░░░░ just moments moments ago ░░░░░░░░ very new very important ░░░░░░░░ data out from the ░░░░░░░░ government on the economy ░░░░░░░░ July CPI report just ░░░░░░░░ shows that U S ░░░░░░░░ was up just 0 ░░░░░░░░ last month Let s ░░░░░░░░ to CNN s Vanessa ░░░░░░░░ who has got much ░░░░░░░░ detail and much more ░░░░░░░░ what is inside these ░░░░░░░░ What are you seeing ░░░░░░░░ A tamer inflation report ░░░░░░░░ President Trump s Tariffs ░░░░░░░░ is better than expected ░░░░░░░░ over month as you ░░░░░░░░ up 0 2 On ░░░░░░░░ annual basis up 2 ░░░░░░░░ in July That s ░░░░░░░░ what we saw on ░░░░░░░░ annual basis for the ░░░░░░░░ of June When you ░░░░░░░░ at the key categories ░░░░░░░░ we always look at ░░░░░░░░ food and shelter energy ░░░░░░░░ by 1 1 That ░░░░░░░░ largely driven because of ░░░░░░░░ prices falling in the ░░░░░░░░ of July by 2 ░░░░░░░░ Look at that food ░░░░░░░░ mean this is where ░░░░░░░░ spend their money right ░░░░░░░░ every single day Food ░░░░░░░░ 0 and actually down ░░░░░░░░ the grocery store by ░░░░░░░░ 1 And then shelter ░░░░░░░░ always usually see an ░░░░░░░░ because that is what ░░░░░░░░ are paying on rent ░░░░░░░░ we know that rents ░░░░░░░░ rising That is usually ░░░░░░░░ biggest share of this ░░░░░░░░ But when we look ░░░░░░░░ core inflation this is ░░░░░░░░ we re starting to ░░░░░░░░ some of those price ░░░░░░░░ Core inflation actually came ░░░░░░░░ hotter than expected So ░░░░░░░░ over month up 0 ░░░░░░░░ And on an annual ░░░░░░░░ up 3 1 that ░░░░░░░░ actually the highest reading ░░░░░░░░ ve seen since February ░░░░░░░░ this is important because ░░░░░░░░ strips out that volatility ░░░░░░░░ the energy of the ░░░░░░░░ prices So you re ░░░░░░░░ at other categories other ░░░░░░░░ like apparel toys furniture ░░░░░░░░ These are things that ░░░░░░░░ are spending more discretionarily ░░░░░░░░ see though toys up ░░░░░░░░ 2 Furniture came in ░░░░░░░░ should be 0 9 ░░░░░░░░ 9 on furniture Appliances ░░░░░░░░ down We saw a ░░░░░░░░ of people front loading ░░░░░░░░ bigger purchases of appliances ░░░░░░░░ the tariffs hit so ░░░░░░░░ may be a pullback ░░░░░░░░ consumer spending Apparel clothing ░░░░░░░░ to school shopping up ░░░░░░░░ 1 And then beef ░░░░░░░░ was on there We ░░░░░░░░ seen beef prices rising ░░░░░░░░ over the past couple ░░░░░░░░ months Up 2 4 ░░░░░░░░ while you re saving ░░░░░░░░ money at the grocery ░░░░░░░░ certain items like beef ░░░░░░░░ up 2 4 And ░░░░░░░░ re looking at markets ░░░░░░░░ here You can see ░░░░░░░░ are up This is ░░░░░░░░ better than expected report ░░░░░░░░ the face of so ░░░░░░░░ tariff uncertainty.”