How tariffs will impact grocery prices
Here’s where shoppers can expect price increases at the grocery store.
By
December 8, 2024
With the prospect of new tariffs on imported goods, grocery shoppers may start to see noticeable price changes in the following items:
- Avocados – ~90% of the U.S. avocado supply will come from Mexico in 2024
- Berries – Over 50% of fresh blueberries came from Chile and Puru in 2021
- Garlic – Other countries produce ~75% of the world’s supply of garlic; U.S. fresh garlic imports increased 33% in the 12 months from June 2023 to May 2024
- Bananas – ~75% of the U.S. banana supply is imported from Guatemala, Costa Rica, and other Latin American countries
Coffee, frozen beef, and olive oil prices should also rise.
So, what’s the total damage? Third Way predicts shoppers will pay $185/year more for groceries and $551/year more at big-box stores. The analysis models additional costs based on a scenario where a 60% tariff is added to goods primarily from China, and a 10% tariff is added to goods imported from other countries.
