The clearest sign yet tariff inflation is hitting companies: Wholesale prices jumped the most in three years
The cost of wholesale goods and services — where rising inflation tends to show up first — posted the biggest increase in July in three years, possibly heralding a sizable acceleration in price hikes tied to U.S. tariffs.
The producer-price index jumped 0.9% last month after no change in June, the government said Thursday. The surge was a big surprise to Wall Street.
“We are starting to see that inflationary pressure is bubbling,” said Jennifer Lee, senior economist at BMO Capital Markets.
The cost of wholesale goods and services — where rising inflation tends to show up first — in July posted the biggest increase in three years, possibly heralding a sizable acceleration in price increases tied to higher U.S. tariffs.
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