Rising wholesale inflation is a warning sign

The economic forecast is getting bleaker by the month. In July, wholesale inflation rose at the fastest monthly pace since June 2022. The producer price index jumped 0.9% from June to July – more than four times what economists expected. These are all signs that domestic producers, manufacturers, and business owners are beginning to feel the effect of Donald Trump’s tariffs – and consumers may start feeling it soon too. “There is no doubt Americans are paying the tariffs at this point,��