ISM July Survey Shows Inflation Pain Outpacing Pandemic, Raising Fed Rate‑Hike Odds
July’s ISM manufacturing index jumped to 55.6 – the strongest since May 2022 – but the prices sub‑index lingered at 71.1, marking the 22nd month of rising costs. Executives say price volatility now feels worse than the pandemic, nudging the Fed toward a September rate hike.