The Consumer Price Index rose slightly less than expected in July annually as tariffs showed only a slight influence on prices. Tariffs didn't give much boost.

Inflation ticked upward in July, rising 0.2% for the month and 2.7% for the year, according to Tuesday's Consumer Price Index report.

U.S. import prices rebounded in July, boosted by higher costs for consumer goods, the latest indication that inflation was poised to pick up because of tariffs.