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
Latest News Stories
Trump ends tariffs on Scotch whisky after King Charles visit
Civil rights complaints filed over race-based healthcare scholarships
Candidates clamor for Carter’s open seat
Illinois Quick Hits: Civic federation funds ‘persistent structural imbalance’ in Illinois
Illinois Quick Hits: Civic federation funds ‘persistent structural imbalance’ in Illinois
Lincoln-Way Schools Join “WillBeReady” Mutual Aid Network for Disaster Response
Millions Approved for Will County Highway and Road Infrastructure Projects
U.S. House OKs Fetterman bill allowing SNAP to cover hot rotisserie chicken
Gas hits $6 a gallon in California; Southwest see increases
Teacher unions spent over $1B on political causes since 2015
Illinoisans may soon need registration, title, license to use e-bikes, scooters
Executive order creates website for retirement accounts, matching federal contributions
