US wholesale prices jumped nearly 1% in July — the fastest increase in over three years — as Donald Trump’s tariff war feeds directly into rising costs. The Producer Price Index rose 3.3% year-on-year, with services, processed goods, and tariff-heavy imports like furniture and apparel seeing sharp price hikes. Businesses are starting to pass these costs to consumers, fuelling fears of higher inflation in the coming months. Economists warn that unless tariffs are rolled back, American families will face more pressure on their wallets.
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