Something in July made the prices jack up in a really serious way.
The 3.3% figure is annual, normally called "last 12 months" to avoid confusion with a fixed year.
"Prices increased 0.9% in July, which would translate to an annual inflation rate of 11.3%" is one way to say it with more clarity.
Also, Trump has a habit of picking numbers out of context when they suit his personal narrative. For example, not long ago he said something like "The price of gas is down to $1.98 per gallon" when in fact that that number was something along of the lines of the wholesale price. So it's no wonder people are misinformed when they get misleading economic information.
The markets knew about the tariffs when they came up with that estimate.
In a consumer-based economy, they shouldn't even have any. Society would just react to tariffs with some deflation elsewhere. But since the US economy is now investment-based (a WTF for some other post), there should be some, but I would still expect not much of it.
IMO, that's almost all due to the tax policy.