US producer price inflation bounced in July to its highest reading since 2022, data showed Thursday, with underlying signs that businesses are facing pressures from President Donald Trump's tariffs.

The rise in services costs exceeded that in goods, contributing to a markedly larger advance than analysts expected.

But economists noted that the headline increase might be overstated -- boosted by a range of volatile factors -- even as there are also price gains in goods exposed to tariffs.

The producer price index (PPI) rose 0.9 percent on a month-on-month basis after a flat reading in June, said the Department of Labor.

A Briefing.com analyst consensus forecast expected a much smaller jump of 0.2 percent.

The PPI measures changes in prices that producers pay, and the report is seen b

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