The cost of wholesale goods and services — where rising inflation tends to show up first — in July posted the biggest increase in three years, possibly heralding a sizable acceleration in price increases tied to higher U.

US wholesale prices jumped in July, rising 3.3 per cent from a year earlier, in the latest signal that President Donald Trump’s tariffs are seeping through to the American economy. The rise in the Producer Price Index,

Inflation held steady in July and ran slightly cooler than expected, increasing the odds of a Federal Reserve rate cut next month.

Global stocks edged lower on Thursday, with equities on Wall Street ending flat, while U.S. Treasury yields rose after market expectations for Federal Reserve interest rate cuts were shaken by surprisingly strong inflation data.

Gold futures fell after hotter than expected U.S. inflation data lifted the dollar and Treasury yields, likely lowering the odds of a larger September interest rate cut by the Federal Reserve.

US consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose on lingering anxiety about the impact of tariffs.

Consumer sentiment worsened in August, snapping two consecutive months of improved attitudes among shoppers as President Donald Trump imposed sweeping new tariffs on nearly 70 countries. The fresh reading fell short of economists’ expectations.

U.S. consumer sentiment softened in August as households anticipated higher goods prices because of import tariffs.