Many companies are still working through inventory they stocked before the tariffs hit — but some products are starting to get more expensive.

The Consumer Brands Association also warned 20,000 U.S. food manufacturing jobs could be endangered if more costly products cause a drop in sales.

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.