ECONOMY08/13/26

July 2026 CPI Inflation Report

US inflation eased to 3.4% annually in July as gas and grocery prices fell.

Photo: Fox Business

DIFFERENT FOCUS

NPR Economy emphasized Fed Gains Breathing Room; Fox Business emphasized Inflation Still Elevated.

LEFT FOCUS

▸NPR framed the report as giving the Fed 'breathing room' for inflation control efforts. — NPR Economy
▸NPR reported the data makes a Fed rate hike in September less likely. — NPR Economy

RIGHT FOCUS

▸Fox Business emphasized inflation 'remained elevated' even as it cooled slightly. — Fox Business
▸Fox Business noted the Fed is still actively weighing a potential September rate hike. — Fox Business

September CPI Hits 3.7%

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest