Donald Trump continued to rage at media figures overnight, this time former New York Times columnist Paul Krugman. Trump wrote on Truth Social late Sunday, “Paul Krugman of the New York Times has been predicting Doom and Gloom ever since my great election success in 2016. In other words, he has been wrong for YEARS, …

A gauge of underlying inflation in July showed prices increasing at the fastest annual pace in five months, a sign that businesses are passing along tariff-related costs to customers.

The Labor Department’s consumer price index for July showed that the annual pace of inflation remained at 2.7 percent from July 2024. That’s the same as the annual rise reported in June and above April’s post-pandemic low of 2.3 percent, though it was just under economists’ expectations.

Inflation didn’t rise as much as expected last month — but a measurement of underlying price hikes shows a pickup in tariff-related pressures.

U.S. stock futures were slightly higher early in Europe after Tuesday’s inflation reading cemented expectations for the Fed to resume cutting rates.

Gold prices edged higher on Tuesday after U.S. inflation data sustained expectations of Federal Reserve interest rate cuts, while attention turned to other key economic data due this week.