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%.
Events
Latest News Stories
Trump warns of ‘Great Depression’ if appeals court curbs tariff power
Illinois in focus: DHS announces new facility; NFIB urges veto of regulations; minority scholarship lawsuit moves forward
Abbott to call ‘special session after special session’ in response to AWOL Dems
WATCH: Illinois In Focus Daily | Friday Aug. 8th, 2025
Legislator urges leaders to focus on relief for Illinois’ high property taxes
Charles Dewain Harlan, 73
Meeting Briefs: Casey City Council for August 4, 2025
Texas House, Illinois state senator sue 33 AWOL Democrats in Illinois court
WATCH: Democrat state redistricting efforts created unfair advantages, lawmaker says
Illinois quick hits: Fatal helicopter crash; Comptroller orders another extra pension payment
New poll: 50.2% of Illinois voters view Pritzker unfavorably
WATCH: Pritzker welcomes FBI looking for TX Dems in IL, dismisses bribery question
