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EN
Inflation remains elevated as Trump’s tariffs take hold
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TPR: The Public's Radio
The price of home furnishings rose in July, thanks in part to President Trump’s tariffs.
(Joe Raedle | Getty Images North America)Inflation continued to dog shoppers last month, as consumers were forced to shoulder more of the cost of President Trump’s tariffs.
Rising prices on imported items such as toys and furniture contributed to the higher cost of living.
But with the government collecting tens of billions of dollars a month in tariffs, consumers are sure to see higher prices.
Federal Reserve Governor Chris Waller has argued that tariffs will cause a one-time jump in prices, but won’t continue to fuel inflation month after month.
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