US Edition
Wholesale prices rose 0.9% in July, much more than expected
Wholesale inflation rose 3.3% year-over-year with services up 1.1%, the largest monthly increase since March 2022, driven by higher tariffs on imports, the U.S. Labor Department reported.
- The U.S. Labor Department reported the Producer Price Index jumped 0.9% last month, the largest since June 2022, raising the annual rate to 3.3%.
- Amid rising import levies, U.S. wholesale inflation rose by the most in three years as President Donald Trump's tariff hikes fed through supply chains.
- With services accounting for most gains, final demand services surged 1.1%, the largest since March 2022, while final demand goods climbed 0.7%.
- S&P 500 futures fell 0.5% and Nasdaq 100 futures were 0.58% lower after the data release, as traders pared bets on a Fed rate cut at the September meeting.
- Expectations for a rate cut next month are high, as money markets fully price a 25-basis-point reduction, according to CME FedWatch tool.
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95 Articles
Watauga Democrat
US producer inflation highest in three years in July
US producer price inflation bounced in July to its highest reading since 2022, data showed Thursday, with underlying signs that businesses are facing pressures from President Donald Trump's tariffs.
'Something else going on': Analyst highlights data showing Trump policies driving up costs
Businesses are paying more for the products they need, according to a new government report, and those costs could soon make their way downstream to American consumers.The latest Producer Price Index shows producers and manufacturers paid 0.9 percent more last month compared to June, raising the ann...
US stocks pull back from records after a hotter-than-expected inflation report (Business)
Wall Street is retreating from its record heights after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. The S&P 500 fell 0.4% in early trading Thursday. The Dow Jones Industrial Average was down 149 points, and the Nasdaq composite...
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der Standard DEIn July, US producers increased their prices by 0.9 percent. Economists expected only 0.2 percent.
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