Year-over-year, used vehicle prices rose by 4.8%, the seventh month in a row of year-over-year increases, and the biggest one yet. Apparel and footwear are largely imported and tariffed. The CPI for apparel and footwear inched up a hair by 0.07% month-to-month and was down 0.2% year-over-year.

A key measure of consumer prices in July posted the biggest increase in six months, suggesting inflation is showing some upward pressure from tariffs but perhaps not enough to deter the Federal Reserve from cutting interest rates soon.

U.S. inflation was unchanged in July while a measure of underlying inflation rose to its highest level in five months as tariffs push the price of imported goods higher while gas and grocery prices cooled.