Trump raise prices
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It turns out that placing large taxes on imported goods raises prices, almost as if this is the entire point of the policy:
Wholesale prices—the cost of goods and services purchased directly from producers—rose at the sharpest monthly rate in three years, raising fresh alarm that tariffs are taking root in the economy and pushing up inflation.
The data complicates the picture for an anticipated interest-rate cut at the Federal Reserve’s next meeting in September by nudging the central bank’s inflation gauge in the wrong direction.
Prices charged by U.S. manufacturers and service providers rose by 0.9% month over month in July, the Bureau of Labor Statistics said Thursday, the biggest month-over-month increase since March 2022.
The increase spanned prices of wholesale goods, from food to tires, which jumped by 0.7% from a month earlier. The prices of business-to-business services were up by 1.1% in July versus June.
The data offer insight into price pressures companies themselves are facing months into a tumultuous season of on-again, off-again tariffs. Wholesale prices for computers, household appliances and furniture all climbed.
The report issued Thursday, known as the producer-price index, is volatile, and many analysts look to it more as a gut check on the inner gears of commerce than as one of the economy’s primary vital signs.
Congratulations again to the decisive core of “we must destroy cancer research and Article 1 because burger too exponsive” voters.
…”I voted for Trump because Uncle Joe Brandon made groceries too expensive” great work!
