What could rising tariffs mean for your grocery bill

U.S. inflation slowed in February, with the consumer price index increasing by 2.8% year-over-year, a decrease from the previous month's 3%. Core prices, excluding food and energy, rose by 3.1%, down from 3.3%. Despite these declines, inflation remains above the Federal Reserve's 2% target, and experts anticipate ongoing higher inflation levels due to implemented tariffs. Monthly consumer prices only increased by 0.2%, a drop from January's 0.5%, influenced by decreased airfare and slower rental price growth. Grocery prices stabilized, though egg prices rose significantly by 10.4% in February, reaching a record of $5.90 per dozen due to an avian flu outbreak. Trade tensions surfaced as tariffs on steel and aluminum impacted the market, leading to increased costs for goods, with the European Union and Canada announcing retaliatory measures. Retailers expect price hikes in several product categories, particularly toys sourced from China, which could see increases of 15% to 20%.

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