PPI report shows biggest surge in three years. Here’s what that says about inflation.
The producer price index, or PPI, surged last month, far outpacing economists’ forecasts and suggesting that President Trump’s tariffs are starting to significantly drive up the cost of imported goods. Wholesale inflation rose 0.9% in July from the prior month, the Labor Department said Thursday, outstripping economists’ expectations for a 0.2% increase. The jump marks…