US wholesale prices jumped in July, rising 3.3 per cent from a year earlier, in the latest signal that President Donald Trump’s tariffs are seeping through to the American economy.
The rise in the Producer Price Index, which tracks what domestic US producers charge for their goods and services, was the biggest jump since February.
The reading from the Bureau of Labor Statistics was well above June’s 2.4 per cent annual gain and the 2.5 per cent rise expected by economists polled by Bloomberg.
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