Tariffs Pushed up Consumer Goods Prices by 2.9 Percentage Points: NY Fed
The New York Fed said tariffs passed through about 25% of their increase to consumer prices, with the effect easing after the Supreme Court ruling.
- A recently released New York Federal Reserve report attributes consumer goods inflation to President Donald Trump's tariff agenda, finding costs for 67 product categories were 2.9 percent higher by February 2026.
- Tariffs impact prices through direct import costs and indirect effects, such as producers raising markups on domestic goods, a process that takes nine to 12 months to materialize.
- Researchers estimated that around 26 percent of tariff increases enacted last year were reflected in retail prices; without these duties, prices would have fallen by about 1 percent early this year.
- While the Supreme Court's decision to invalidate the president's 'reciprocal' tariffs eased price growth to about 2 percent in August, new 50 percent tariffs on more than $20 billion in Canadian goods are causing the tariff effect to edge up again.
- Critics, including former Rep. Joe Walsh, expressed outrage over the findings, blaming cost hikes squarely on MAGA, as investors monitor September's inflation report due October 14 amid broader energy price growth from the Iran war.
20 Articles
20 Articles
NY Fed Study Finds Tariffs Drove ALL Recent Growth in Everyday Goods Prices
A new study from the Federal Reserve Bank of New York finds that tariffs imposed by President Trump account for the entire increase in consumer goods inflation through February 2026, with researchers estimating prices would have otherwise fallen.
New York Fed Says Tariffs Responsible for Nearly 3% Price Hikes on Popular Products
Newly released research from the New York Federal Reserve provides damning evidence that higher prices seen at retail are a direct result of President Donald Trump’s tariff agenda.
New York Fed research found that if not for Trump's tariffs, goods prices would have declined. Many news outlets haven't yet covered it.
On October 6, the Federal Reserve Bank of New York published an article to its Liberty Street Economics blog that included a chart showing that President Donald Trump’s tariffs directly led to a higher inflation rate and that without those tariffs, consumer goods prices would have declined. Through October 7, most major news organizations had failed even to mention this research yet. Even though Trump promised and failed to deliver on quickly lo…
Coverage Details
Bias Distribution
- 38% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
