Inflation, tariffs
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The report on producer prices adds to a mixed picture for inflation as the economy adjusts to the imposition of import tariffs.
Factory-gate prices held steady in June, surprising economists. The producer-price index was flat last month, the Labor Department said, missing forecasts for a 0.2% rise. The index rose by a revised 0.
Higher inflation could give the Bank of England pause for thought over cutting interest rates.
U.S. wholesale inflation cooled last month, despite worries that President Donald Trump’s tariffs would push prices higher.
Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher in June in what economists see as evidence of the Trump administration's increasing import taxes passing through to consumers.
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12hon MSNOpinion
On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,
Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.
Cooling inflation in India and tariff-induced price pressures in the U.S. are cementing a downward bias on dollar-rupee forward premiums, according to analysts.