A recently released analysis from The Budget Lab at Yale estimates consumers could pay an additional $2,800 per year if new tariffs take effect Aug. 1.

Lab Director of Economics Ernie Tedeschi said Monday grocery prices could be a big driver, rising as much as 4% over the next 12 to 24 months.

“Four percent over the next year or two, that’s like an extra two years’ worth of food inflation on top of what we’re already getting,” he said. “That’s meaningful for families.”

Tedeschi said food price inflation has already picked up. Prices in December were up by 1.8% from the year prior, but that growth rate as 2.4% in June.

Consumers said they’ve noticed.

Less selection, higher prices: How tariffs are shaping the holiday shopping season

“It’s so expensive, especially like vegetables and me

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