The latest Consumer Price Index (CPI) report reveals that consumer prices rose by 2.7% annually in July, reflecting a steady inflation rate despite ongoing concerns about data quality. The impact of tariffs introduced during the Trump administration continues to ripple through the economy, with prices for various goods, including food and energy, offsetting increases in other areas. While core inflation has surged to its highest rate in six months, analysts worry that rising tariffs may lead to further price hikes in the near future. Even as inflation remains steady, there are indications that the Federal Reserve may need to adjust its rate-cut outlook in response to these developments.