# Abel, Amiti, Deitz, Heise and Montalbano argue in Liberty Street Economics that tariff price increases may continue [Canonical reading](https://escapemeridian.com/readings/abel-amiti-deitz-heise-and-montalbano-argue-in-liberty-street-12064cdb) The post was published on July 8, 2026. Jaison R. Abel, Mary Amiti, Richard Deitz, Sebastian Heise and Nick Montalbano report that many firms that paid tariffs still plan to raise prices to offset those costs. In the Federal Reserve Bank of New York’s May 2026 regional business surveys, 47 percent of tariff-paying service firms and 44 percent of tariff-paying manufacturers said they had more tariff-induced price increases to come. Some firms planned increases more than six months later. The authors describe two reasons for delayed increases: fixed-price contracts can prevent firms from changing prices until contracts expire, and some firms raise prices gradually rather than sharply. Uncertainty about future tariff policies may also encourage incremental pricing. The authors argue that a tariff-related price-level change often described as “one-time” may stretch over time, with inflationary pressures lasting “for some time to come.” They say it is not clear whether firms are responding to one round of tariffs or to successive increases. Headline and summary by Escape Meridian, prepared by Luna from the attributed source. A source check is not independent confirmation of the source’s claims. ## Original source Federal Reserve Bank of New York · Article Original source date: Jul 8, 2026 (2026-07-08T11:00:00.000Z). Date basis: Date supplied by the publisher’s feed. Added to Escape Meridian: 2026-11-06T11:23:24.368Z. First observed: 2026-10-30T04:55:58.701Z. Retrieved: 2026-10-30T04:57:45.034Z. - [More Tariff Pass‑Through Is in the Pipeline](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Limits Text as retrieved on October 30, 2026; originally published July 8, 2026. ## Open question How much of the planned price increases reflects a single round of tariffs, and how much reflects successive increases? ## Source-stated The authors report that nearly half of tariff-paying firms surveyed planned further tariff-related price increases. > That leaves 47 percent of service firms and 44 percent of manufacturers that paid tariffs directly saying they have more tariff-induced price increases to come - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated Some surveyed firms planned tariff-induced price increases more than six months later. > 16 percent of service firms and 7 percent of manufacturers plan tariff-induced price increases more than six months from now. - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated The authors say fixed-price contracts can delay price increases, while some firms raise prices gradually rather than all at once. > some businesses operate under contracts with fixed selling prices and are unable to raise prices until such contracts expire - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated The authors argue that gradual price adjustment may prolong tariff-related inflationary pressures. > inflationary pressures due to tariffs may well last for some time to come. - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source and contributor context Federal Reserve Bank of New York · Publisher The publisher is identified here. No individual author has been inferred. ## Source media Media retrieval status: unchecked. ## Terms and references Reference context selected by Escape Meridian; separate from source evidence. Entity mentions do not establish authorship, involvement or endorsement. ## TIME TIME is a news magazine publishing reporting on world affairs, business, technology and the workers behind digital services. - [Explore this context](/entities/time) - [Reference](https://time.com/) ## Editorial provenance Version 1. Publication ID: 6c2bca33-a608-2e21-1727-42aeba6459f2. Prepared by openai/gpt-6-luna; grounding review by anthropic/claude-opus-5.5. Source check: passed by anthropic/claude-opus-5.5 on 2026-11-06T11:19:06.927Z. This checks fidelity to the source, not whether its claims are independently true. Editorial selection: accept; reasons: bridge\_admitted\_by\_model. Observation: c3aea22202a70ed65eb6520570a8ed8d6adf15493bbbff2486e50e46b14e97ec. Source text hash: cbb613e2096d67ddb298ecd8bc084e04d5899eaeaad98ef90d7efd31c427c5be. ## Revision and source-check history ### Version 1 — 2026-11-06T11:23:24.368Z The post was published on July 8, 2026. Jaison R. Abel, Mary Amiti, Richard Deitz, Sebastian Heise and Nick Montalbano report that many firms that paid tariffs still plan to raise prices to offset those costs. In the Federal Reserve Bank of New York’s May 2026 regional business surveys, 47 percent of tariff-paying service firms and 44 percent of tariff-paying manufacturers said they had more tariff-induced price increases to come. Some firms planned increases more than six months later. The authors describe two reasons for delayed increases: fixed-price contracts can prevent firms from changing prices until contracts expire, and some firms raise prices gradually rather than sharply. Uncertainty about future tariff policies may also encourage incremental pricing. The authors argue that a tariff-related price-level change often described as “one-time” may stretch over time, with inflationary pressures lasting “for some time to come.” They say it is not clear whether firms are responding to one round of tariffs or to successive increases. ## Original source Federal Reserve Bank of New York · Article Original source date: Jul 8, 2026 (2026-07-08T11:00:00.000Z). Date basis: Date supplied by the publisher’s feed. Added to Escape Meridian: 2026-11-06T11:23:24.368Z. First observed: 2026-10-30T04:55:58.701Z. Retrieved: 2026-10-30T04:57:45.034Z. - [More Tariff Pass‑Through Is in the Pipeline](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Limits Text as retrieved on October 30, 2026; originally published July 8, 2026. ## Open question How much of the planned price increases reflects a single round of tariffs, and how much reflects successive increases? ## Source-stated The authors report that nearly half of tariff-paying firms surveyed planned further tariff-related price increases. > That leaves 47 percent of service firms and 44 percent of manufacturers that paid tariffs directly saying they have more tariff-induced price increases to come - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated Some surveyed firms planned tariff-induced price increases more than six months later. > 16 percent of service firms and 7 percent of manufacturers plan tariff-induced price increases more than six months from now. - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated The authors say fixed-price contracts can delay price increases, while some firms raise prices gradually rather than all at once. > some businesses operate under contracts with fixed selling prices and are unable to raise prices until such contracts expire - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source-stated The authors argue that gradual price adjustment may prolong tariff-related inflationary pressures. > inflationary pressures due to tariffs may well last for some time to come. - [Supporting source](https://libertystreeteconomics.newyorkfed.org/2026/07/more-tariff-pass-through-is-in-the-pipeline/) ## Source and contributor context Federal Reserve Bank of New York · Publisher The publisher is identified here. No individual author has been inferred. ## Source media Media retrieval status: unchecked. ## Terms and references Reference context selected by Escape Meridian; separate from source evidence. Entity mentions do not establish authorship, involvement or endorsement. ## TIME TIME is a news magazine publishing reporting on world affairs, business, technology and the workers behind digital services. - [Explore this context](/entities/time) - [Reference](https://time.com/) ## Editorial provenance Version 1. Publication ID: 6c2bca33-a608-2e21-1727-42aeba6459f2. Prepared by openai/gpt-6-luna; grounding review by anthropic/claude-opus-5.5. Source check: passed by anthropic/claude-opus-5.5 on 2026-11-06T11:19:06.927Z. This checks fidelity to the source, not whether its claims are independently true. Editorial selection: accept; reasons: bridge\_admitted\_by\_model. Observation: c3aea22202a70ed65eb6520570a8ed8d6adf15493bbbff2486e50e46b14e97ec. Source text hash: cbb613e2096d67ddb298ecd8bc084e04d5899eaeaad98ef90d7efd31c427c5be. ### passed — 2026-11-06T11:19:06.927Z — anthropic/claude-opus-5.5 Publication: 6c2bca33-a608-2e21-1727-42aeba6459f2 attribution — pass: The reading attributes the post to Jaison R. Abel, Mary Amiti, Richard Deitz, Sebastian Heise and Nick Montalbano in Liberty Street Economics. It also attributes the surveys to the Federal Reserve Bank of New York. Both match the byline and citation. The findings and arguments are framed as the authors' reports, not as established facts. > Jaison R. Abel, Mary Amiti, Richard Deitz, Sebastian Heise, and Nick Montalbano summary — pass: The reading leads with the authors' finding that many tariff-paying firms still plan price increases. It gives the survey shares, the two reasons for delay and the policy-uncertainty factor. It preserves the authors' argument that a 'one-time' adjustment may be drawn out, and their stated uncertainty about single versus successive tariff rounds. The question follows directly from that stated uncertainty. The terms are plain enough for a general reader. > It is not clear whether firms are responding to a single round of tariffs or to the sequence of increases that has unfolded over the past year or more. date — pass: evidence.originalPublished is 2026-07-08T11:00Z, and the reading states July 8, 2026. This matches the page dateline and the citation. The survey is stated at month precision (May 2026), as in the source. Planned price increases are reported as firms' plans, not outcomes. There is no hindsight framing, and the page is not an archive copy. > July 8, 2026 support — pass: All four claims are directly supported by the source: the 47 and 44 percent shares, the 16 and 7 percent planning increases more than six months out, fixed-price contracts and gradual 'trickle up' pricing, and possibly persistent inflationary pressure. The source's own hedges on policy uncertainty ('may be causing') and persistence ('may well last') are preserved. No unsupported benefits, costs or forecasts are added. > some businesses reported taking a “trickle up” approach to price increases, where they gradually raise prices over time rather than immediately raising prices to fully cover tariffs media — pass: No media is selected, and no verified media candidates were supplied. Selecting none is appropriate. ## Recorded references Explicit citations in public readings and public file attachments to this reading. Shared topics are not citations. Other artifact types need an explicit reference adapter. No public references recorded here yet. [Reference data (JSON)](/readings/12064cdbc937bff1f87f73ad242e11ee7c1e000ebadf2347a747c3e776903fd0/references.json) ## Corrections and challenges [Send a correction or an opposing source](https://escapemeridian.com/corrections/) [JSON record](https://escapemeridian.com/readings/abel-amiti-deitz-heise-and-montalbano-argue-in-liberty-street-12064cdb.json)