US EditionWholesale prices rose 0.9% in July, much more than expected
Wholesale inflation rose 3.3% year-over-year with services up 1.1%, the largest monthly increase since March 2022, driven by higher tariffs on imports, the U.S. Labor Department reported.
- The U.S. Labor Department reported the Producer Price Index jumped 0.9% last month, the largest since June 2022, raising the annual rate to 3.3%.
- Amid rising import levies, U.S. wholesale inflation rose by the most in three years as President Donald Trump's tariff hikes fed through supply chains.
- With services accounting for most gains, final demand services surged 1.1%, the largest since March 2022, while final demand goods climbed 0.7%.
- S&P 500 futures fell 0.5% and Nasdaq 100 futures were 0.58% lower after the data release, as traders pared bets on a Fed rate cut at the September meeting.
- Expectations for a rate cut next month are high, as money markets fully price a 25-basis-point reduction, according to CME FedWatch tool.
238 Articles
238 Articles
Inflation Is Back, Time to Worry
While the Consumer Price Index (CPI) was up only 2.7% year over year in July, a more important measure rose much higher. The Producer Price Index (PPI ) was up 3.3% in July compared to a year ago. More importantly, the number was up 0.9% month over month. Excluding food, energy, and trade services, the index was up 0.6%, the biggest gain since March 2022. 24/7 Wall St. Key Points: The Producer Price Index surged in July, in part due to tariffs…
New data signals higher prices are on the way for consumers amid tariffs
New data from the Bureau of Labor Statistics shows that consumers could be staring down higher prices in the future. The latest Producer Price Index, which measures the average change in prices paid to producers, jumped 0.9% from June, bringing the annual rate to 3.3%.
The tariff policies implemented by the United States began to reflect their repercussions on the economy of that country, by placing wholesale inflation at its highest point in three years, which reveals that pressures are intensifying and could generate caution on the part of the Federal Reserve for its September meeting.The data recorded by the Bureau of Labor Statistics determined that the Producer Price Index (IPP) increased 0.9 percent comp…
The Times of Northwest Indiana
Producer prices surge among businesses in US
WASHINGTON — U.S. wholesale inflation surged unexpectedly last month, signaling that President Donald Trump's sweeping taxes on imports are pushing costs up and that higher prices for consumers may be on the way.
The producer price index increased by 0.9% last month compared to June, the largest increase in more than three years.
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