US Edition
Inflation Report Shows Stunning First Effects of Trump Tariffs on Prices
- The U.S. consumer price index increased by 0.1% in May 2025, raising the annual inflation rate to 2.4%.
- This rise followed concerns over tariffs announced in April 2025, with experts noting that most businesses had not fully passed costs onto consumers yet due to stockpiling and delayed effects.
- Some price increases appeared in durable goods like major appliances, which rose 4.3%, while sectors sensitive to tariffs, such as furniture and apparel, saw price declines in May.
- Joseph Brusuelas noted that the recent increase in appliance prices is similar to the surge experienced during the 2018-2020 import tariff period, while Luke Tilley contended that tariffs are more likely to weaken the economy rather than drive inflation.
- Federal Reserve officials remain cautious and expect price pressures to build later this year, with markets largely predicting no change in interest rates until September 2025.
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