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Accelerating producer prices are providing yet more troubling economic data for the Trump administration.Carlos Barria/Reuters
Less than two weeks after U.S. President Donald Trump fired the head of the Bureau of Labor Statistics over the release of weak jobs numbers, the department delivered another batch of troubling economic data for the Trump administration’s agenda: accelerating producer prices.
Wholesale inflation climbed in July at the fastest pace in three years in a sign that import taxes are pushing up prices for domestic producers, and economists warn higher consumer prices could be next.
The producer price index (PPI) rose 0.9 per cent in July from the month before, more than three times faster than expected, and the largest monthly increase since March, 2022, the BLS said Thursday.
Compared with a year ago, top-line producer prices jumped 3.3…
