Consumer sentiment ticked higher in July, marking two consecutive months of improved shopper attitudes as businesses navigated President Donald Trump’s latest tariff threats targeting dozens of countries. The fresh reading matched economists’ expectations.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

The prices for food at home rose 0.3 in June, while food away from home, meaning restaurants, ticked up 0.4% on a monthly basis. Notably, the Trump administration has recently imposed a 17% tariff on Mexican tomatoes. The energy index edged up 0.9% in June, as gasoline prices jumped 1% over the month but shed 7.9% for the year.

Egg prices cooled significantly in June, deviating from an overall rise in prices. The price of eggs climbed 27% over the year ending in June, which marked a slowdown from 41% year-over-year growth in May. Under Trump, inflation has defied doomsday predictions and helped to propel sturdy economic performance.

The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

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

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

With just two weeks to go for the next rate-setting meeting, Federal Reserve Governor Christopher Waller has called for a quarter basis point cut by the central bank. In prepared remarks delivered at the Money Marketeers Forum at New York University,

On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,