Businesses have been eating Trump’s tariffs - that’s starting to change

Costs were sharply on the rise for producers and manufacturers in July, a sign that higher prices could soon filter down to American consumers.

US inflation on the wholesale level picked up steam last month, with prices rising by the fastest monthly pace since June 2022, new data showed Thursday.

The latest Producer Price Index, which measures the average change in prices paid to producers, jumped 0.9% from June, lifting the annual rate to 3.3%, according to Bureau of Labor Statistics data. PPI serves as a potential bellwether for the prices consumers may see in the months ahead.

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