U.S. producer prices surge in July as Trump tariffs push costs higher
August 14, 2025
U.S. wholesale inflation surged unexpectedly last month as President Donald Trump’s sweeping taxes on imports are pushing costs higher. The Labor Department reported Thursday that its producer price index — which measures inflation before it hits consumers — was up 0.9% last month from June and 3.3% from a year earlier. The numbers were much higher than forecasters had expected.