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%.
Partly Sunny then Chance Showers And Thunderstorms
Latest News Stories
Advocates warn of looming debt crisis
Bears want more after Illinois House passes megaproject tax incentive bill
DHS wants millions more from taxpayers after federal SNAP changes
Illinois Millionaires Tax doesn’t get support
Pritzker bans insider trading by state employees, faces hypocrisy claims
Lincoln-Way Central Dominates Stagg in 13-0 Shutout Victory
Lincoln-Way Central Bats Quieted in 4-0 Road Loss to Lincoln-Way East
Autism care providers, parents urge change in ownership mandate
Analyst: Southern Poverty Law Center indictment will increase scrutiny of group
Illinois Quick Hits: Bears want more from state
Will County Board Approves Controversial Solar Farms Following Court Mandate
Bears, megaprojects tax incentive bill heads to Senate after clearing House
