US super core CPI jumped 0.5 percent in July

The pass-through to consumer prices of the most recent rise in tariffs is expected to be faster than the initial round because there was less time to stockpile, writes KPMG US Chief Economist Diane Swonk.

The United States (US) consumer price index (CPI) rose 0.2 percent in July, well in line with financial market expectations. That translates to a 2.7 percent gain from a year ago, the same as the already elevated pace of June. Food prices moved sideways, while food away from home increased by 0.3 percent. Egg prices continued their descent, falling 3.9 percent during the month alone, but are still up 16.4 percent from a year ago. We are finally seeing the stock of chickens and eggs come b...

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Authors: Diane Swonk

Published Date: 14 August 2025