WASHINGTON– Today, Ranking Member Nydia M. Velázquez (D-NY) released the following statement regarding the July Producer Price Index (PPI) report:
“Today’s report reflects the reality that small businesses across the United States are feeling. Prices for critical products are going up and Main Street is being squeezed by Donald Trump’s tariffs. Today’s PPI reading shows that wholesale prices are rising at the fastest pace in over three years. For Main Street, this means higher costs for the goods they rely on, and less money to expand and hire new employees.
“President Trump campaigned on bringing costs down on day one. Instead, his chaotic trade policy is fueling inflation and making life unaffordable for small firms and working families across America.”
