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%.
Showers And Thunderstorms Likely
Latest News Stories
Watchdog says Biden Education Department defied court order on Title IX enforcement
Congress skips town without passing $72B immigration enforcement bill
EPA slashes regulations on refrigerants finalized during Biden-era
Illinois Quick Hits: State unemployment rate still more than 5%
Mace amendment would spare Democrats she targeted
Illinois to require hidden ‘junk fees’ included in advertised price
WATCH: Trump says Iran ‘won’t have nuclear weapon’
Prescription board bill advances without money
Feds charge 15 in $90M Minnesota childcare, Medicaid fraud
Federal court blocks key provisions of Texas immigration law
House GOP pushes Pritzker for local control
Supreme Court rules for U.S.-Cuban land claims
