Here's what new data from the producer price index says about where inflation is headed, according to economists.

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

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 for consumers may be on

Earlier this week, falling bond yields and growing expectations for aggressive Federal Reserve interest-rate cuts in the months ahead helped spark a rotation away from what had been working in the U.S.

US stocks fell on Thursday as wholesale inflation accelerated by the most in three years, halting a risk-on rally that helped set fresh record highs.

U.S. stock index futures slipped on Thursday after hotter-than-expected producer prices data contrasted with recent tame consumer prices data that had boosted bets of Federal Reserve interest rate cuts this year.