On the surface of the U.S. economy, prices are higher. The latest inflation data out on Friday from the government showed a bigger uptick than forecast. On Thursday, Nike said it took a $1 billion hit due to tariffs and the fact that price increases have yet to hit.
Inside the U.S. economy, within distribution networks that manage inventory, there are fewer items overall due to the trade war, but more goods on which sticker prices are going up.
“We are now seeing multiple customers increasing pricing,” said Ryan Martin, president of distribution and fulfillment for ITS Logistics.
While price tags are placed on items at the manufacturer, Martin said over the past month his company has started re-ticketing “millions of units of products for many customers,” items ranging from apparel to consumer products in the warehouse being prepped for eventual delivery or immediate transport to stores.
Depending on the product, price increases range from 8%-15%, he said.
