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%.
Patchy Smoke
Latest News Stories
Report: ‘Climate risk scores’ featured on homebuying platforms devalue homes
Casey-Westfield Board Accepts $187,661 Insurance Package for 2026-2027
Casey Awards $917,745 Contract for I-70 Sewer and Water Extension
Texas agency investigating birth tourism, ‘HavemybabyinTEXAS.com’
CNBC ranks 10 GOP-led states as worst to live in
Medical watchdog reveals issues with recent medical student reports
Feds: Chicago is key in trade fraud fight
Illinois Quick Hits: State officials launch court user survey
$424.9M considered for projects at Fire stadium questioned
Illinois congressman pushes to repeal federal tax cuts
Illinois state diversity leader resigns amid criticism
Illinois Quick Hits: Chicago committee approves infrastructure funding around soccer stadium
