Wholesale inflation in the U.S. increased significantly last month, driven by Trump's tariffs on imports. The Labor Department reported a 0.9% rise in the producer price index, the largest monthly increase in over three years, and a 3.3% rise compared to the previous year. Core producer prices also saw a notable rise of 0.9%. While many producers currently absorb tariff costs, experts warn that prices may soon rise for consumers. Notably, wholesale food prices surged, particularly for vegetables, although the report contained puzzling trends regarding profit margins.
U.S. wholesale inflation unexpectedly surged last month, with the producer price index rising 0.9%, representing the biggest jump in over three years.
Wholesale prices increased 3.3% compared to a year earlier, with the rise in prices for producers outpacing that for consumers in July.
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