U.S. producer prices surge in July as tariffs increase costs
U.S. wholesale inflation surged last month, a sign that President Donald Trump’s tariffs are boosting costs and higher prices may be on the way.
The Producer Price Index for final demand climbed 0.9% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported Thursday. Final demand prices were unchanged in June and moved up 0.4% in May. On an unadjusted basis, the index for final demand advanced 3.3% for the 12 months ended in July, the largest 12-month increase since rising 3.4% in February 2025.
Prices for final demand goods increased 0.7%. The index for final demand – less foods, energy, and trade services – moved up 0.6% in July, the largest increase since rising 0.9% in March 2022.
Spencer Hakimian, founder of Tolou Capital Management, called it the return of inflation.
“As I’ve been warning you all for months, we have a massive inflation problem in the United States again,” he wrote on X.
For the 12 months ended in July, prices for final demand less foods, energy, and trade services advanced 2.8%.
Sunny
Latest News Stories
Southwest low on list of safest states; Northeast at the top
Trump administration begins axing positions of furloughed federal workers
Washington state attorney general agrees to protect seal of confession
Senator urges Rubio to move forward designating Antifa a foreign terror organization
Pacific Northwest journalists sound off on Antifa at President Trump’s roundtable
Nvidia will pay 100k visa fees, others unsure
‘Shameful:’ GOP leaders frustrated with Dems on tenth day of shutdown
Trump snubbed by Nobel Committee, praised by winner
Trump threatens tariffs on China over ‘hostile’ rare earths policy
Illinois legislator urges school discipline to focus on behavior, not race
WATCH: Trump appeals Guard TRO as DHS looks to ‘double down’ law enforcement in Chicago
Illinois quick hits: Trump appeals judge’s Guard order; ICE fence ordered down in Broadview
