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Tariffs Push US Retail Prices Higher as Companies Pass Costs to Shoppers

June government data show rising costs for tariff-exposed goods, with firms now shifting permanent import taxes onto consumers over coming months.

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Overview

  • Government data from June reveal price increases on tariff-exposed items such as home furnishings, toys and appliances.
  • Major firms including Adidas, Procter & Gamble and Stanley Black & Decker have announced or signaled upcoming price hikes to offset import taxes.
  • Retailers like Walmart and toymakers Hasbro and Mattel previously warned that sustained tariffs would lead to higher prices for consumers.
  • Federal Reserve Chair Jerome Powell acknowledged that tariff pass-through into consumer prices was slower initially but is now accelerating.
  • Wells Fargo economist Sarah House says the next three to six months will be critical as businesses adjust to permanent higher tariffs and profit margins tighten.