The latest producer price index, which measures the average change in prices paid to producers, jumped .09% in June.

Producer prices increased by the most in three years in July, suggesting a broad pickup in inflation was imminent. "This is a kick in the teeth for anyone who thought that tariffs would not impact domestic prices in the United States economy,

US producer price inflation bounced in July to its highest reading since 2022, data showed Thursday, with underlying signs that businesses are facing pressures from President Donald Trump’s tariffs.

In late July Fed Chairman Jerome Powell and the majority of the policy-making Federal Open Market Committee voted to maintain the “wait-and-see” approach to interest rate cuts. The FOMC held the benchmark Federal Funds Rate to a range of 4.25% to 4.5% to monitor the potential impact of tariffs into the U.S. supply chain.

US wholesale inflation accelerated in July by the most in three years, suggesting companies are passing along higher import costs related to tariffs.

Domestic producers are “raising prices in line with the protection tariffs are providing them,” said a construction economist, a move that could further stoke inflation.

Wall Street's main indexes declined on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.

Gold price drifts lower to near $3,330 in Monday’s early Asian session. Unexpectedly strong US economic data weigh on the Gold price, but safe-haven demand might cap its downside. Traders brace for the Trump and Zelenskiy meeting later on Monday.

President Donald Trump received unpleasant news from a friendly face on Thursday morning. Fox Business Host Maria Bartiromo was live on air when the Producer Price Index report for July was released by the Bureau of Labor Statistics,