Trump Tariffs Ignite Producer Prices

Stagflation Fears Intensify

Summary
US producer prices jumped 0.9% MoM in July 2025—far surpassing the 0.2% consensus—as the President’s tariffs ripple through supply chains. Annual PPI hit 3.3%, the highest since April’s tariff escalation. With importers rushing to beat deadlines, the Port of L.A. processed a record 1M+ TEUs last month. But this front-loading is unsustainable; we …