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%.
Sunny
Latest News Stories
Will County Committee Adds Path to Citizenship Support to Federal Agenda
Health Department Outlines Major Reduction in Consensus Vaccine Schedule
Public Works Committee Forwards Condemnation Proceedings for Francis and Marley Road Improvements
Finance Committee: Scholarship Tax Credit Discussion Halts
Newsom predicts smaller budget shortfall than state agency
Colorado ordered to pay $5.4M after abortion law blocked
Four Republicans certified for primary to take on Pritzker
Illinois quick hits: State sues over frozen funds; Nicor Gas seeks rate hike
Treasury, IRS ramp up investigation into Minnesota fraud
Tariff authority decision still awaited from Supreme Court
Minneapolis schools offer remote learning while ICE operations continue
Trump administration sued for freezing child care funds
