Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
Waiting for tariff-induced price increases in the U.S. to show up can feel like watching an M. Night Shyamalan movie.
July’s consumer price index came in mostly benign. The headline annual rate of 2.7% was lower than the Dow Jones estimate of 2.8%. That said, the core figure was 0.1 percentage points more than expected, and the highest since February, before U.S. President Donald Trump unleashed his tariffs in April.
“The tariffs are in the numbers, but they’re certainly not jumping out hair on fire at this point,” former White House economist Jared Bernstein, who served under Joe Biden, told CNBC.
Things appear idyllic so far, but you know something’s going to shock you out of your seats eventually — are the figures accurate, except that the decimal point should be shifted to the right? — which makes monitoring U.S. inflation a captivating experience.
