According to expert view, the tariffs raised by the US government are likely to increase inflation. Nothing can be felt in the past month.
In the United States, inflation surprisingly has not changed in July. Consumer prices rose by 2.7 percent in the previous month, as the Ministry of Labor announced in Washington on Tuesday. Experts, among other things, had expected a greater inflation of 2.8 percent for increased tariffs that US President Donald Trump imposed on imported goods. “Compared to the price-stringing potential of US customs policy, inflation remains behavior in July,” commented Elmar Völker, analyst at the Landesbank Baden-Württemberg. .
So far, the customs effect has been “relatively moderate”, said Bernd Weidensteiner, analyst at Commerzbank. Many companies have obviously not passed on the tariffs to customers so far. “However, this should only be temporary.” We continue to assume that the tariffs will be more and more struck on consumer prices, “said the Commerzbank expert.
The US Federal Reserve is aiming for an annual rate of two percent in inflation. However, the unexpectedly weak inflation in July speaks more for a interest rate reduction in the near future. At the foreign exchange market, the US dollar reacted to the price data with significant price losses to the euro.
Source: Stern
