When President Donald Trump announced sweeping import tariffs in April, the move was expected to ripple through the economy. The impact is evident in the prices of everyday goods. According to the latest Consumer Price Index (CPI) data, consumer prices climbed 2.9% year-over-year in August. That’s above the Federal Reserve’s 2% inflation target.
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Some categories have been less affected, but goods like coffee, bananas, televisions, toys and jewelry have seen sharp price hikes due to the tariffs. Here’s how much these five popular items have gone up since April.
Toys
Toys have been affordable over the years due to overseas manufacturing. However, tariffs has made toy prices jump 2.5% since April, according to CPI data. Near three quarters of the toys sold in the U.S. are imports from China, where many shipments now face up to 30% tariffs.
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TVs
TV prices have been on a downward trend since the 1990s but with Trump tariffs they have risen 3.1% since April, per CPI data. Many TVs in the North American market are shipped from China, Vietnam and Mexico. Depending on the supplier, retailers can pay anywhere from 20% to 30%. If you’re in the market for a new TV, you may feel the pinch at checkout.
Jewelry and Watches
Luxury items have also been hit by the tariffs. And since the U.S. relies on imported jewelry components, jewelry and watch prices surged 5.5% in August, per CPI data. One of the reasons for the high spike is Trump’s 39% tariffs imposed on Swiss imports. Plus, India and Japan, major suppliers of diamonds and high-end mechanical watches were also hit with new tariffs.
Coffee
Your caffeine fix got a lot more expensive, with coffee prices jumping 9.8% since April, according to CPI data. While the 10% global tariffs is the major contributor, the U.S. also grows less than 1% of coffee, relying heavily on imports. Additionally, Brazil — which provides more than a third of America’s Arabica beans, according to Detroit News — was hit with a 50% tariff last month.
Bananas
Bananas, which have a long history of stability despite where the economy goes, saw a 4.9% jump in prices between April and August, per CPI data. Besides, almost all the bananas in the U.S. market come from central and south America.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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This article originally appeared on GOBankingRates.com: Trump’s Tariffs: How Much 5 Popular Items Have Increased in Price Since April
