US retail sales rose by 0.1% in April, beating expectations, despite a pullback in most goods categories due to tariff-related price increases. Meanwhile, wholesale prices fell by 0.5%, indicating little sign of tariff-related price pressures. Walmart’s announcement that it will not be able to absorb tariff-related price increases and pass costs onto consumers raises concerns about the impact on consumer prices. The US trade war has shown no signs of inflationary pressure yet, but experts warn that higher import taxes are likely to arrive this summer.
Source: https://www.axios.com/2025/05/15/tariffs-inflation-recession-data