Ouch! The July Producer Price Index (PPI) is coming in hot. 🔥 The report shows a significant jump in wholesale prices, far exceeding what economists predicted. This means the costs for businesses to produce goods and services are rising fast. 📈
A big driver? Tariffs are likely a major factor, squeezing businesses and hinting that these higher costs could soon be passed on to consumers. 💸 This surprising data throws a wrench in hopes for a September interest rate cut from the Federal Reserve, as inflation seems more persistent than anticipated. The balancing act between controlling inflation and supporting the economy just got even trickier. balancing_scale
