Despite a barrage of new tariffs imposed by the Trump administration this year on dozens of U.S. trade partners , the prices of goods and services across the U.S. have defied many economists' expectations and remained relatively stable.

Economists caution that just because tariffs have yet to trigger a renewed bout of inflation, there is no guarantee that prices won't surge later this year. They note that recent data shows a modest rise in the cost of items including clothing, home furnishings and appliances.

Tariffs — meaning the rate importers must pay at the border for imported goods — also take a long time to seep into the economy. That's because companies often trying to hold off on passing along higher costs to customers to avoid losing market share to rivals.

Yet expert

See Full Page