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Trump's Tariffs Spike Inflation, Clothing Prices Soar 13%

11/27/2025

46 5 Full Breakdown

Summary

Story summary

Tariffs imposed by U.S. President Donald Trump raised inflation by 0.7 percentage points from March to August 2025, per the National Bureau of Economic Research (NBER).
The annual inflation rate reached 2.9% in 2025, versus 2.2% without tariffs.
Tariffs raised prices for carpets by 50% and clothing by 13%.
The Federal Reserve Bank of San Francisco notes tariffs can initially raise unemployment while lowering inflation.

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Story summary

Tariffs imposed by U.S. President Donald Trump raised inflation by 0.7 percentage points from March to August 2025, per the National Bureau of Economic Research (NBER).
The annual inflation rate reached 2.9% in 2025, versus 2.2% without tariffs.
Tariffs raised prices for carpets by 50% and clothing by 13%.
The Federal Reserve Bank of San Francisco notes tariffs can initially raise unemployment while lowering inflation.