NASHVILLE, TENN. (RFD NEWS) — New analysis from the Minneapolis Federal Reserve suggests tariffs are not the main reason goods prices remain elevated, raising broader concerns for input costs across agriculture and rural economies.
Economists found core goods inflation continues to run above historical averages, but price increases do not align with where tariffs should have the biggest impact. Some goods with high tariff exposure have seen limited inflation, while others with low tariffs have posted stronger price gains.
The report estimates tariffs are contributing only about 0.5 percentage points to overall inflation, meaning other factors — including supply chain shifts, demand changes, and pricing behavior — are playing a larger role. Inflation in goods remains elevated at roughly 1.9% year-over-year, well above pre-pandemic norms.
For agriculture, that disconnect matters. Equipment, inputs, and consumer goods tied to farm operations may continue rising in cost even if tariff pressures ease, complicating budgeting decisions.
The findings also suggest that some price increases may still be working their way through the system, especially as inventories turn and contracts reset.
Farm-Level Takeaway: Input costs may stay elevated beyond tariff impacts.
Tony St. James, RFD NEWS Markets Specialist
A SCOTUS ruling on Trump’s tariffs could have long-term implications on the authority of future administrations to control U.S. trade policy, according to RFD-TV legal expert Roger McEowen.
November 05, 2025 11:08 AM
·
RaboResearch says China’s pivot from mass production to innovation-driven growth could reshape global pesticide supply chains — and influence prices and product access for U.S. farmers in the coming years.
November 04, 2025 01:20 PM
·
Farmers for Free Trade Executive Director Brian Kuehl shares more about the tour to gather farmers’ insights on the economic challenges they face in the ag economy.
November 04, 2025 01:15 PM
·
Expect modest relief on several produce lines, mixed protein trends into holiday buying, and softer veg-oil costs — a good week to sharpen forward buys selectively.
November 04, 2025 11:29 AM
·
RFD-TV’s farm legal expert, Roger McEowen, digs into the details of both the LRP and the LGM programs, two essential risk management tools for cattle producers.
November 04, 2025 10:34 AM
·
USDA will meet part of November SNAP benefits under court direction, citing insufficient funds for full payments.
November 04, 2025 10:20 AM
·
