Tariffs Added 2.9 Percentage Points to Prices Across 67 Goods Categories

Tariffs added 2.9 percentage points to prices across 67 consumer-goods categories through February 2026, offsetting an almost 1% decline that would have occurred without the levies.

The analysis covered tariffs imposed during 2025 and early 2026. For each percentage-point increase in the average tariff, consumer-goods prices rose by roughly one-quarter of a percentage point a year later.

About 26% of tariff increases passed through to consumer prices. About two-thirds of the tariff-related price impact came directly from the levies. The remainder came through knock-on effects, including higher costs for companies using imported parts and materials.

Annual price growth for the goods studied peaked at the start of 2026. Consumers are expected to face elevated prices into 2027 as the effects of the tariffs continue to work through the economy.

The Supreme Court struck down many of the tariffs in February 2026, resulting in billions of dollars in refunds to retailers. The White House has pledged to pursue tariffs through alternative measures, while products imported from many countries often face levies of about 10%.

The current levies are lower in many cases than those imposed during the earlier round of tariffs, but their effects on consumer prices are expected to persist into next year.