Mark Cuban warned four months ago: “They will raise prices and blame them on tariffs.” Prices rise here – he’s right

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Back to April 2, Billionaire Entrepreneur Mark Cuba Tell his Blues followers: “Go to the local Walmart or big box retailer and buy a lot of consumables now.

Now, four months later, that’s exactly what’s going on.

Procter & Gamble (NYSE:PG), the company behind big-name brands like Tide, Dawn, Charmin and Crest, announced in July that it will increase the price of its products by 25% starting in August. According to the Washington Post, the average increase was about 2.5%. The company has taken the tariffs to hit a $1 billion annual hit rate as one of the reasons.

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In media briefings, Procter & Gamble Chief Financial Officer Andre Schulten It means that the increase will be “moderate”, “enough”, and consistent with “typical inflation that consumers will experience.”

Retail analysts believe that more and more companies will be. Wal-Mart (NYSE:WMT) has often set the tone for industry pricing and has raised the price of items like toys, kitchenware and baby equipment, which is mainly made in China. Tariffs on steel and aluminum are also expected to drive packaging costs for food and beverage staples such as beer, coffee and canned food.

Nearly 75% of U.S. imports are affected by tariffs, including baked goods, fish, liqueurs and spirits, according to the Tax Foundation.

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The latest wave of price increases is because many Americans are already trying to keep up. A recent Century Foundation survey found that 61% of Americans said the Trump administration’s cost of living has become worse. The survey shows that widespread financial anxiety: 41% say they have to reduce their savings, 37% use credit cards to pay bills, and 25% skip meals over the past year.