Tariffs' Impact: $1K+ on Families, 80-Year High

0:00It's April 15th. This is Tampa Bay News today, powered by AI. Tariffs have jacked up prices on everyday stuff, like coffee, tea, canned goods, and clothes, hitting families hard in Tampa Bay and beyond. It's been a full year since these tariffs kicked in, pushing the average effective rate to over 11.8%, the highest in 80. Years right up there with World War II levels. That means the typical American household is shelling out an extra $1,000 to $1,500 a year just to keep up. Experts at Yale's Budget Lab, by policy analyst John Rico, broke it down with a new real-time tariff tracker anyone can tap into online. It shows how tariff slam goods way more than services, especially metal heavy items with 50% hits on steel, aluminum, and copper. Folks are feeling the squeeze as inflation climbed to 3.3% last month. The biggest jump in nearly two years fueled by record gas. Prices. Consumer confidence also tank to a historic low per university of Michigan data,

1:04making every trip to the store a budget battle. The tracker gets super-specific. Down to individual grocery items, helping people plan smarter buys and spot trends in vehicles, construction gear, or apparel. Meanwhile, over 200 food and farm products got exemptions from reciprocal tariffs back in November. Even with those carbouts, Rico says price drops won't happen overnight. Tariff's full sting is still rippling through, so families might just see. The rise is slow for now. Keep an eye on that tracker to stay ahead of the curve.