A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.

Inflation is moving higher and the impact of tariffs are only beginning to show up in government data, likely keeping interest rates on hold.

Trade policy uncertainty, rising costs and soft demand weigh on freight and manufacturing, despite modest rebounds in production and shipping activity.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Inflation in June showed scattered signs of rising costs tied to the Trump tariffs, but Americans simply aren’t paying sharply higher prices because of U.S. trade wars. Here are four things we learned from the latest consumer-price index report.