Inflation Rate of Goods Affected by Counter Tariffs

How will we know if tariffs and counter-tariffs have increased prices or when their removal has returned them back to normal?

On September 1, all counter-tariffs Canada had imposed on goods imported from the US were rescinded – aside from those on steel, aluminum and passenger vehicles.

That included counter-tariffs on a long and impossibly technical list of goods and raw materials including poultry, meat, fresh fruits and vegetables, tobacco products, beauty and personal care products, lumber and related products, clothing and accessories, appliances and some home décor goods, like carpets.

The tariffs may no longer be in place, but they still had the potential to impact producer and consumer prices the 6 months between March 3 and September 1. And the removal of the counter tariffs ushers in the potential for prices to fall because the goods are no longer subject to them.

The most recent Consumer Price Index reportedthat consumer prices increased by 1.9% between August 2024 and August 2025.

Read more analysis by Kaylie here.