The costs of tariffs are starting to drive higher prices for US consumer goods from cans of soup to car parts, even as overall US inflation rises at a moderate pace.
Official data and statements from companies are pointing to accelerating price rises for an assortment of trade-dependent products after companies sold off inventories and moved to shift the cost burden of tariffs on to consumers.
Data from the Bureau of Labor Statistics showed that in the six months to August, prices for audio equipment rose by 14 per cent, dresses were up by 8 per cent and tools, hardware and supplies had risen by 5 per cent. Most of these goods are imported.
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