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Tariffs Drive Inflation Higher With More Consumer Pain Expected
Tariffs Drive Inflation Higher With More Consumer Pain Expected
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BTCCSquare news:
U.S. consumers have borne $592 billion in costs from Trump-era tariffs through 2025, with companies increasingly passing import tax burdens to buyers. Inflation accelerated sharply after April's tariff hikes, with September's CPI hitting 3.1% - the highest since May 2024.
Contrary to White House denials, Federal Reserve and Goldman Sachs research confirms tariffs directly contribute to rising prices. The economic Ripple effects now extend beyond trade sectors, impacting household budgets across multiple industries.
Market analysts warn the full inflationary impact hasn't materialized. As businesses continue adjusting pricing strategies, consumers should prepare for sustained pressure on purchasing power through 2025.
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