HOW TO COMPARE CREDIT BUILDER APPS IN 2024

Taxes
Created:
05/01/2025
Author:
Laura Crespo

Rising Costs on Everyday Essentials Could Mean Big Financial Pressure for Families

When new tariffs are introduced, the impact goes beyond international politics—it hits consumers where it hurts most: the grocery store.

Supermarket executives and food suppliers across the U.S. are bracing for another wave of price hikes, with tariffs driving up the cost of imported goods, raw materials, and packaging. And yes, your weekly grocery bill is likely to feel it soon.

Tariffs are essentially taxes on imports, and while they’re paid by businesses at the border, those costs quickly trickle down to consumers. For Americans already struggling with inflation, this is another financial burden—and it could hit lower-income households especially hard.

Grocery Store Items Most Affected by Tariffs

So, which items should shoppers expect to see rise in price? Based on reports from grocery distributors and supply chain analysts, here’s a breakdown of what’s likely to get more expensive:

1. Seafood

Much of the seafood sold in U.S. stores comes from countries like Vietnam, China, and Chile. Tariffs on imported fish, shrimp, and crab mean higher prices at the seafood counter.

2. Coffee and Chocolate

These popular imports are often sourced from regions now subject to trade penalties. Expect to see a price hike on your favorite bag of ground coffee or chocolate bar in the coming weeks.

3. Cheese and Dairy Imports

Italian cheeses, French butter, and European yogurt may all get pricier as tariffs hit international dairy imports.

4. Nuts and Dried Fruits

These items are typically imported from Turkey, Iran, and South America—countries affected by new trade measures.

5. Canned Goods

Not only are some canned fruits and vegetables imported, but the cans themselves—made with foreign aluminum and steel—are now more expensive to produce.

6. Plastic and Packaging

Household staples like plastic wrap, utensils, and packaged foods are impacted by the rising cost of plastic resins and aluminum used in packaging.

Shrinkflation and Product Cuts

Beyond higher prices, shoppers may also notice a tactic known as “shrinkflation.” Instead of raising prices directly, companies reduce the size or quantity of products.

Your favorite cereal box might now contain fewer ounces, or that pack of paper towels might have one less roll—but the price remains the same.

In some cases, entire product lines are being trimmed. “Companies are cutting less popular SKUs to focus on higher-margin items that can absorb tariff-related cost increases,” says a retail analyst from the National Grocers Association.

Small Stores Hit Hardest

While national chains like Walmart or Kroger can absorb short-term cost increases, smaller grocery stores are less insulated. They operate on thinner margins and have fewer logistics options. This means local and independent markets will likely raise prices sooner and more sharply.

A CEO at a Texas-based food distributor recently reported that bananas sourced from Guatemala will increase in price by 10%, due to new tariffs imposed on Central American produce.

That 4-cent increase per case may not seem like much,” he said, “but multiply that by thousands of cases per week and it adds up fast—for us and for shoppers.

How Tariffs Could Affect Your Finances

This wave of price hikes is a classic example of how policy changes ripple through the economy—and directly impact the average American household.

For those already facing tight budgets, particularly families seeking tax reliefor tax solutions, these increases may further complicate financial planning.

If you're dealing with mounting grocery bills, it's smart to reassess your overall financial picture—including what you may owe the IRS. Our blog on how to handle tax debt when your expenses are rising offers useful steps to regain control.

What You Can Do Now

  1. Start tracking price changes at your local grocery store. Switch to generic brands or frozen alternatives for high-impact items like seafood or berries.
  2. Buy in bulk before prices spike further—especially on shelf-stable imports like canned goods or pasta.
  3. Speak with a tax relief expert to identify ways you can offset increased living costs during tax season. We break down your options in our guide to tax solutions for struggling households.

Final Thoughts

The truth is, when tariffs go into effect, someone always pays—and this time, it’s likely to be the American consumer. With higher grocery prices already creeping in, it’s more important than ever to be proactive with your finances.

Whether that means adjusting your budget, exploring tax relief options, or cutting back where you can, taking control now will help you weather the storm.

Stay informed. Plan ahead. And don’t hesitate to reach out for help if you’re struggling to balance it all.

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