“The increase was broad-based among wholesalers and retailers of fuel, autos and other goods, but almost certainly is not the start of a resurgence in margins. The data are volatile and often revised a lot. Margins will come under increasing pressure as growth in consumers’ spending continues to slow.”

Ian Shepherdson, chairman and chief economist for Pantheon Macroeconomics, commented on a report that indicated wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. Read the CNN article, “Unexpected Bad News for Inflation: Wholesale Prices Rose in June.”