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

A measure of wholesale prices rose in July, coming in higher than Wall Street estimates, after remaining unchanged in June. The producer price index, which is a gauge of prices that producers get for their goods and services in the open market,

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