The Consumer Price Index rose slightly less than expected in July annually as tariffs showed only a slight influence on prices. Tariffs didn't give much boost.

The CPI, a basket of goods and services typically bought by consumers, tracks the change in prices on everyday items such as food and apparel over time. So far this year, inflation has stayed at 3% or lower.

U.S. consumer prices likely increased moderately in July, though rising costs for goods like household furniture and apparel because of import tariffs probably resulted in a measure of underlying inflation posting its largest gain in six months.