Companies already raise prices or plan to, blaming tariffs, data shows

Data from the New York Federal Reserve shows a majority of companies have passed along at least some of President Donald Trump's tariffs onto customers, the latest in a growing body of evidence indicating the policy change is likely to stretch consumers' wallets.

In May, about 77% of service firms that saw increased costs due to higher U.S. tariffs tariffs passed through at least at least some of the rise to clients, according to a survey conducted by the New York Fed that was released Wednesday. Around 75% of manufacturers surveyed said the same.

In fact, more than 30% of manufacturers and roughly 45% of service firms passed through all of the higher cost to their customers, according to the New York Fed's statics.

Price hikes happened quickly after Trump slapped steep levies on trad