COLORADO SPRINGS, Colo. (KOAA) — There’s uncertainty over how tariffs will impact costs for shoppers in southern Colorado and throughout the country, but there are some items to watch.
University of Colorado Colorado Springs (UCCS) Associate Professor of Operations and Supply Chain Management Scott Van Ness said the next few months will be the test.
“We get into the holiday season. That's when it could get really interesting because that's when everybody's going to be feeling the crunch,” Van Ness said.
When it comes to where the impact will be felt the most, he points to clothing, electronics, and alcohol.
“So I would expect on on some of the items we might see some increases faster for sure in electronics, anything with semiconductors could be hot right now,” he said.
Prices are high due to a variety of factors, but tariff impacts have largely not reached consumers yet.
The Consumer Price Index (CPI) report showed inflation grew by 2.7% in June and prices rose 0.3%.
When it comes to clothing in larger supermarkets it’s going to be one area where shoppers will likely feel the impacts. Van Ness said there’s also a possibility that negotiations could keep prices stable for products like clothing.
“Putting the pressure on this, with the tariffs could create an opportunity with these countries potentially keep these prices down,” Van Ness said, “ he faster somebody could make a deal on the tariffs the reciprocal tariffs go into effect, they may come out as the winner in this”.
Another area consumers may want to watch out for is pet supplies. Van Ness pointed out many of these products are not made in the United States and like many products, the costs have gone up in recent years.
“We spend a tremendous amount of money on our pets now, and these items have all gone up considerably. Dog leashes, chew toys, collars, bowls, everything,” Van Ness said.
This time of year many families are preparing for the school year, he said there’s no need to panic.
“There's no impact there yet, so do your regular back to school shopping, but don't buy ten times what you need because you think it's going to go up. We're not going to see that right away,” Van Ness said.
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