ATLANTA — New data reveals that wholesale prices are climbing, potentially leading to higher costs for consumers in Georgia.
The Producer Price Index jumped 0.9% in July, marking the largest monthly increase since June 2022, indicating that inflation may still be a threat.
Tom Smith, a finance professor at the Goizueta Business School, attributes the rise in wholesale prices to increased tariffs.
“I think consumers are stuck trying to find alternatives. And the truth is that for some things, the alternatives are not really there,” Smith said.
Chris Clark, President and CEO of the Georgia Chamber of Commerce, expressed concern about how much of the additional costs businesses can absorb before passing them on to customers.
“I think they just need to be smart about their purchases,” Clark said.
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Wholesale prices are what retailers pay for goods, and if they pay more, consumers might also face higher prices.
Tariffs may target Georgia’s top exports, including aerospace, cars, and poultry, which could affect local industries.
“You’re going to end up paying higher prices. Consumers will absolutely pay higher prices,” Smith said.
The U.S. is actively working on trade deals with countries such as Japan, South Korea, Vietnam, the Philippines, Indonesia, and the European Union to reset trade terms.
The report on wholesale prices excludes food and energy prices due to their unpredictable nature.
Consumers in Georgia may need to be smart about their purchases as they face potential price increases due to rising wholesale costs and tariffs.
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