Markets hit record highs as investors saw inflation numbers as a sign the Fed has room to cut rates more — or that tariffs might not drive prices much higher.

Trump extends the deadline on China tariffs — but investors were unimpressed. They could have been conditioned to expect such flip-flopping from Trump.

CPI was projected to increase 0.2% in July and 2.8% for a year ago on headline, and 0.3% and 3% on core

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

Markets hit record highs as investors saw inflation numbers as a sign the Fed has room to cut rates more — or that tariffs might not drive prices much higher.

Markets hit record highs as investors saw inflation numbers as a sign the Fed has room to cut rates more — or that tariffs might not drive prices much higher.

Wall Street economists are expecting inflation to reaccelerate because of tariffs. Of course, a consensus view does not mean predictions will come true.

Wall Street economists are expecting inflation to reaccelerate because of tariffs. Of course, a consensus view does not mean predictions will come true.

The producer price index — which measures inflation before it hits consumers — was up 0.9% last month from June and 3.3% from a year earlier, much higher than expected.