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US Inflation Figures Show Border Taxes Taking Effect
The Guardian
|August 13, 2025
US inflation held steady last month despite Donald Trump's tariff trade wars, increasing market expectations of a US interest rate cut next month.
Prices were 2.7% higher in July than a year ago, according to consumer price index (CPI) data published yesterday, the same rate as in June.
The futures market's expectation that the Federal Reserve would cut interest rates by a quarter point at its September meeting rose from 85% to roughly 95% after the data came out.
Prices for takeaways and restaurants rose 3.9% over the last year, pushing up overall food prices by 2.9%.
Prices for used cars, housing and medical care also jumped up higher than the overall rate.
This story is from the August 13, 2025 edition of The Guardian.
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