The July CPI report continues to indicate passthrough of tariffs, but perhaps not as severely as in June. However, this process will continue and will likely amplify over the coming months. Meanwhile, services disinflation appears to be ebbing, which could intensify overall inflationary pressures moving forward.
Figure 1. Services Disinflation Bottoms Out as Goods Inflation Rises
Sources: Bureau of Labor Statistics, Haver Analytics, The Conference Board.
myTCB® Members get exclusive access to webcasts, publications, data and analysis, plus discounts to events.
Rising Labor Market Risks Unite the Fed to Deliver 25bps Cut
September 17, 2025
Fed to Cut 25bps to Preserve Delicate Economic Balance
September 16, 2025
August Retail Sales Reflect Consumer Resilience—for Now
September 16, 2025
Tariffs a Factor, but Still Muted in CPI; Fed to Focus on Labor Market
September 11, 2025
Consumers Continue to Favor Necessities amid Rising Prices
August 29, 2025
Pre-Aug 1 Tariff Buying Likely Boosted July Retail Sales
August 15, 2025
Charts
The Gray Swans Tool helps C-suite executives better navigate today’s quickly developing economic, political, and technological environments.
LEARN MORECharts
This index identifies the risk of future labor shortages for specific occupations.
LEARN MORECharts
Our goal is to help members see beyond the political dynamic to inform a medium-term view that supports your strategic planning at this difficult juncture.
LEARN MOREAll release times displayed are Eastern Time
PRESS RELEASE
LEI for the Euro Area Declined in August
September 19, 2025
PRESS RELEASE
The Conference Board Leading Economic Index® (LEI) for the US Declines in August
September 18, 2025
PRESS RELEASE
The LEI for France Improved in July
September 17, 2025
PRESS RELEASE
LEI for Mexico Ticked up in August
September 17, 2025
PRESS RELEASE
The LEI for Germany Ticked Down in July
September 16, 2025
PRESS RELEASE
LEI for Australia Held Steady in July
September 16, 2025
Connect and be informed about this topic through webcasts, virtual events and conferences
Rising Labor Market Risks Unite the Fed to Deliver 25bps Cut
September 17, 2025 | Brief
Fed to Cut 25bps to Preserve Delicate Economic Balance
September 16, 2025 | Brief
August Retail Sales Reflect Consumer Resilience—for Now
September 16, 2025 | Brief
The Conference Board Economic Forecast for the US Economy
September 12, 2025 | Article
Economy Watch: US View (September 2025)
September 12, 2025 | Article
The Economic Outlook—Storms or Sunshine Ahead?
September 10, 2025
US Labor Shortages Update: Skills, Aging, & Policy Impacts
August 06, 2025
Economy Watch: CEO Confidence in an Uncertain World
June 11, 2025
The Future of Energy in a Tariff-Fueled World
May 28, 2025