Tariff Impact Watch – Retail Prices thru 7/26

From Cavallo et al. (Aug. 2025):

Source: Cavallo,  et al. (Aug 2, 2025).

Some data consistent with an impact of tariffs:

Figure 1: PCE-durables deflator (blue), PCE-services deflator (tan), in logs 2025M01=0 Source: BEA.