U.S. Producer Prices Surge As Tariffs Push Costs Higher

WASHINGTON (AP) – U.S. wholesale inflation surged unexpectedly last month as President Donald Trump’s sweeping taxes on imports are pushing costs higher. The Labor Department reported Thursday that its producer price index – which measures inflation before it hits consumers – was up 0.9% last month from June and 3.3% from a year earlier. The numbers were much higher than forecasters had expected.