Tariffs Are Starting to Cause Inflation. Just Look at This Week’s Data.

1. Import prices rose 0.4% in July, hinting at inflation pressures. 2. Retail spending increased 0.5% in July, indicating consumer comfort but caution. 3. Consumer sentiment dropped to a three-month low amid tariff hikes concerns. 4. Tariff rates may have increased to 18%-19%, impacting future CPI readings. 5. Clothing sales rose 7.4%, but restaurant spending fell 0.4%, showing discretionary caution.