Economy

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There is still cost to struggling consumers

Effects on Americans could cut deeper even if inflationary impacts are modest

Wells Fargo’s Cervi noted expected gains in core goods category

Bettadapura expects rise in shrinkflation and private-label expansion

Bettadapura anticipates further and broader price creep in coming months as tariffs ripple through supply chain

Wells Fargo expects overall CPI could peak at 2.9% later this year

Toy prices climbed for second consecutive month leaping by 1.3% matching a four-year high

Apparel and footwear prices were fairly flat in February through May but shot a little higher in June up 1.7% from January

Household furnishings tools and sporting goods showed acceleration in price hikes after post-Covid years when prices fell

Goods prices are already on the rise in tariff-exposed categories both private-sector and federal data shows

Rising goods prices are showing up in inflation data they have been largely overshadowed by factors such as falling gas prices and slowing price hikes for services

Economic data is often lagged Bureau of Labor Statistics will release critical inflation data that covers June next week

Goods will play a more central role in household budgets come fall and winter

Businesses frontloaded import orders near end of last year to prepare for disruptions from port strike and potential tariffs

Awareness of goods prices is lower in summer than fall and winter US is a service-heavy economy especially in summertime

Businesses are hesitant to pass on higher prices consumers do not have appetite or savings for higher prices