Economists: The impact of tariffs on inflation is not as significant as imagined.

Jin10 data reported on July 15, Wisconsin economist Brian Jacobsen stated: “The impact of tariffs has been reflected in the data, but it has not been as destructive as many feared. The prices of household appliances, home equipment, and furniture have risen nearly 2%, but these categories only account for about 1% of the consumer price index. Services make up a large portion of the consumption basket, and there are currently almost no signs that service-related inflation is accelerating. Rent has risen by 0.2%, while prices for non-household accommodations have decreased by 2.9%. This does not mean that tariffs are unimportant, but rather that their impact on inflation, whether in terms of degree or mechanism, is not as significant as many are concerned about.”