July gas prices were down 2.2% from June, according to the Labor Department. Why prices could continue to slip in the months ahead.

The consumer price index rose 2.7% in July on an annual basis. There's some evidence tariffs are putting upward pressure on inflation, economists said.

Prices on goods affected by tariffs saw biggest surges while prices less contingent on foreign imports saw decreases.

July gas prices were down 2.2% from June, according to the Labor Department. Why prices could continue to slip in the months ahead.