Tariffs, inflation
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Prices for major appliances jumped in May, and new tariffs backed by former President Donald Trump are expected to push them even higher as manufacturers face rising costs for foreign-made materials.
Donald Trump continues to ramp up tariff rates even as they face pushback in court. Here's what it will mean for you and your cost of living.
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer prices increased less than expected in May as cheaper gasoline partially offset higher rents, but inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.
The Tribune is tracking 11 everyday costs for Americans — eggs, milk, bread, bananas, oranges, tomatoes, chicken, ground beef, gasoline, electricity and natural gas — and how they are changing, or
3don MSN
U.S. inflation likely picked up a bit last month as President Donald Trump’s tariffs start to bite, but lower prices for gas and possibly for air fares and used cars may limit the overall increase
Key Takeaways A new survey found six in ten consumers wouldn’t pay more than 10% in additional costs on products impacted by tariffs.Younger consumers were more likely to cut their budgets, purchase items before tariffs take effect,
Consumer sentiment improved more than expected in June, indicating a swell of optimism as President Donald Trump rolled back some tariffs in recent weeks.
U.S. consumer prices likely increased moderately in May amid relatively cheaper gasoline, but the Trump administration's import tariffs probably started filtering through to other goods, potentially raising underlying inflation pressures.
Prices for major appliances surged 4.3% in May largely due to rising manufacturing costs from tariffs. Costs could go up even more later in the year.
Inflation likely picked up in May, but not by much. A modest increase in the consumer price index won’t influence the Federal Reserve’s interest-rate policy, but could provide an early gauge of the impact of higher tariffs on prices for goods and services.
The analysis tracked the prices of five popular baby gear categories: car seats, bassinets, strollers, high chairs and baby monitors.
China plans to remove tariffs on imports from almost all African countries to further cement already close relations with the continent as it deals with the fallout of US President Donald Trump’s trade wars.