Tariff pass-through arrives unevenly

Coffee tariffs are hitting retail prices fastest for brands with more spot exposure (e.g., Smucker’s Folgers/Café Bustelo and independent cafes adding surcharges), while companies with advance purchasing see delayed impacts. Starbucks says its peak cost hit won’t arrive until 2026. This shows tariff effects roll into CPI on different clocks depending on firms’ hedging and contracting strategies. — Understanding staggered pass‑through helps explain uneven inflation and why consumers see price hikes at some chains first, informing both policy messaging and market analysis.