<p>Nationwide senior economist Ben Ayers: Although businesses have borne most of the burden of rising tariff costs from (U.S. President Donald Trump) so far, the increasing costs of imported goods are increasingly squeezing profit margins. We expect that in the coming months, tariff costs will be more significantly passed on to consumer prices, and the inflation rate (Producer Price Index PPI) may rise moderately in the second half of 2025</p>

<p>Nationwide senior economist Ben Ayers pointed out that although companies are currently bearing most of the tariff costs, the rising costs of imported goods are squeezing profit margins. He expects that in the coming months, tariff costs will be more clearly passed on to consumer prices, and the inflation rate (Producer Price Index PPI) may rise moderately in the second half of 2025</p>

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