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.

Consumer prices rose 2.7% in July from a year earlier. Excluding the volatile food and energy categories, core prices rose 3.1%, up from 2.9% in June.