tariffs, prices and inflation
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U.S. producer prices were unexpectedly unchanged in June as a tariff-driven increase in the cost of goods such as communication and related equipment was offset by softening demand for travel services.
American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s
Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% in May.
US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.
US wholesale inflation was muted in June, signaling that price pressures might not be building for producers and manufacturers.
The report on wholesale inflation came a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump’s sweeping tariffs pushed up the cost of everything from groceries to appliances.