A key official in the Trump administration's economic team is touting the latest inflation data as showing that a tariff-induced rise in consumer prices is yet to materialize and seems unlikely to do so in the months ahead.The Bureau of Labor Statistics on Tuesday released the consumer price index (CPI) data for July, which showed headline CPI rose 0.2% on a monthly basis and is up 2.7% from a year ago, with the annual figure cooler than the 2.8% estimate of economists polled by LSEG. Core CPI, which excludes volatile energy and food costs, was up 0.3% from a month ago and 3.1% from last year...

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