WASHINGTON (AP) – U.S. wholesale inflation surged unexpectedly last month, signaling that President Donald Trump’s sweeping taxes on imports are pushing costs up and that higher prices may be headed toward consumers.

The Labor Department reported Thursday that its producer price index – which measures inflation before it hits consumers – rose 0.9% last month from June, biggest jump in more than three years. Compared with a year earlier, wholesale prices rose 3.3%, PBN Branded Content

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The numbers were much higher than economists had expected.

Prices rose faster for producers than consumers last month,

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