US producer inflation heats up
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2don MSN
Wholesale inflation much hotter than expected in July — throwing possible wrench into rate cut hopes
The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.
Domestic producers are “raising prices in line with the protection tariffs are providing them,” said a construction economist, a move that could further stoke inflation.
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.