US inflation holds but underlying prices creep up

US inflation remains steady in July, despite import tariffs, with consumer prices rising 2.7% year-on-year, matching June's pace. Core inflation, excluding food and energy costs, saw the fastest increase in six months at 3.1%. Analysts anticipate the Federal Reserve may cut interest rates next month to bolster the economy amid slowing job growth and lingering tariff concerns. President Trump continues to pressure the Fed to lower rates, despite inflation being above the central bank's 2% target.