Consumers Concerned About Tariffs and Food Prices

Grocery stores and gas pumps are important inflation indicators.  While inflationary concerns have been persistent in recent years, the back and forth regarding tariffs on Canada and Mexico, as well as the tariffs on Chinese goods, have prompted additional concerns about prices.

Results from the Gardner Food and Agricultural Policy Survey found most consumers across both political parties expect tariffs to increase the prices they pay for food.  This was highest for Democratic voters as 85.4% expected prices to increase, while 74.6% of Republican participants and 74% of Independent/Other participants also expected prices to rise.

The survey indicates that consumers are preparing for the impact.  Just over 77% of participants said they are either somewhat or very worried about tariffs, and those who are worried about tariffs’ impacts on food prices are also pessimistic about short-term inflation, expecting inflation to get worse over the next few months.

For additional details, check out the Survey in its entirety by Clicking Here.

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