As our regular updates on PriceStats this year have demonstrated, the pass-through of tariffs into consumer prices has, like the tariff implementation itself, been complicated.

Alberto Cavallo’s more granular look at a subset of PriceStats data where country of origin is available shows that just as inflation on goods coming from China appeared to fade in August, the price of goods coming from Mexican and Canada has re-accelerated once again.

So, while overall pass-through so far has been modest relative to the size of the tariffs, it is still too early to suggest the t