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%.
Chance Showers And Thunderstorms
Latest News Stories
Lawsuit: Amazon prefers Trump favoritism to customer refunds
Illinois Quick Hits: Independent candidate filing period opens
Report: Cautionary advice to governments granting overzealous tax breaks
‘Exploited tax dollars’: Trial law firms donate almost exclusively to Democrats
Supreme Court takes up Georgia Title IX case
Will County Executive Committee Splits on Whether to Ask Voters About Single-Member Districts
Will County Departments to Stop Accepting Pennies, Rounding Down Cash Transactions
Everyday Economics: The economy is still standing, but the squeeze Is building
Kentucky to select candidates in high profile races
Alabama voters to elect candidates in redrawn map
Legislative Committee: Federal Update Highlights $79 Billion ICE Funding and DHS Reconciliation
Do midterm redistricting efforts favor Republicans?
