Trump, Inflation
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The report on producer prices adds to a mixed picture for inflation as the economy adjusts to the imposition of import tariffs.
The report on wholesale inflation came a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump’s sweeping tariffs pushed up the cost of everything from groceries to appliances.
The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.By the numbersThe CPI was forecast to rise 2.7% last month,
Inflation rose last month to its highest level since February as President Donald Trump's sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances.
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