Inflation & Prices
First Inflation, Now Tariffs: Low-Income Americans Can’t Catch a Break
After a respite last year, prices of goods are back on the rise.
A shopper browses different cuts of beef at a supermarket in New York.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
With views of current finances among the poorest Americans already near the lowest in 14 years, tariffs are set to add more pressure by making many everyday items even pricier.
Low-income households, who spend a larger share of their budgets on goods than the wealthy and tend to favor cheaper imports, will bear the brunt of the hit. Economists from Bank of America and BNP Paribas expect the February consumer price index report due Wednesday to show early signs of the impact from tariffs — in particular the additional levies on items like furnishings, clothes and electronics coming from China.