Follow live coverage of the July consumer price index report, due out Tuesday at 8:30 a.m. Eastern time. Economists expect inflation continued rising as higher tariffs take effect.

Inflation was subdued in the late 2010s. It then surged due to the economic dislocations triggered by the Covid-19 pandemic, peaking above 9% in 2022. It has since slowed markedly but remains a touch too hot for the Federal Reserve.