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Prices will probably continue to go up a while yet.
A recent study claimed consumers currently pay only half the increased tariffs, and companies will obviously work on normalizing their profits, meaning that other half will also have to be paid.
Also the US dollar has been weak for 5 months now, that means that some goods are worth more on export markets than at home.
The American purchasing power is decreasing from a global perspective, making USA less interesting as an export market, and exports from USA more profitable.
This means there is very little downward pressure on prices, even as Americans are getting poorer and can afford less.
Link to study?
An article about It was on here just a couple of days ago. I'm sorry I don't have the link.
But a simple search turned this story up:
https://www.nbcnews.com/business/consumer/us-consumers-bearing-half-cost-tariffs-far-goldman-sachs-says-rcna237283
It says 55% so not quite the same, maybe not the same study IDK?
I think prices will continue to go up nearly forever. That's kinda how inflation works. Deflation is rare and usually a bad sign.
Inflation is normal, what we typically call inflation is when it's above the normal rate. The target rate by most national banks is 2% inflation.