With the Bureau of Labor Statistics temporarily unable to operate due to a federal government shutdown, a progressive advocacy organization has introduced its own economic indicator to assess the impact of current policies on U.S. consumers.
Unrig Our Economy launched the “People’s Price Index” on Wednesday, a report that claims to demonstrate how Republican policies under President Donald Trump are negatively affecting American households. The report argues that these policies are contributing to rising costs and financial hardship for millions of citizens.
The index highlights the role of Trump’s tariffs in increasing food prices, with staples such as beef, coffee, and fresh produce experiencing significant price hikes over recent months. According to The Wall Street Journal, many consumers have been reducing their grocery purchases to manage rising costs. Dirk Van de Put, CEO of snack company Mondelez International, noted that U.S. shoppers are hesitant to increase their spending on food despite ongoing price increases, citing uncertainty about when the full effects of tariffs will be felt.
Beyond groceries, the report also examines the impact of tariffs on foreign lumber, furniture, and kitchen cabinets, which took effect this week. It suggests that homeowners planning renovations will face significantly higher costs. For example, a 50% tariff on kitchen cabinets and bathroom vanities is expected to add thousands of dollars to home renovation expenses, while furniture tariffs could increase home costs by up to $60,000 in certain markets.
This analysis follows research from Goldman Sachs, which estimated that U.S. consumers bear up to 55% of the costs associated with Trump’s tariffs, contradicting the president’s claims that such measures only affect foreign entities.
The People’s Price Index also addresses healthcare costs, focusing on the Republican Party’s proposed changes to the Affordable Care Act (ACA). The report notes that the refusal to extend health care tax credits has led to the largest proposed increase in insurance premiums since 2018. If these credits expire, average monthly premiums for ACA Marketplace users could double, with some individuals facing increases of nearly $2,000 per month.
Additionally, the report points to cuts in programs like Medicaid, which could reduce the number of insured Americans and place additional financial pressure on hospitals due to increased emergency room visits. This, it argues, would lead to higher healthcare costs for those with private, employer-based insurance.
Another progressive group, Groundwork Collaborative, has echoed similar concerns, emphasizing the severe financial and health impacts of failing to extend ACA tax credits. It highlighted that over 22 million Americans could see their premiums more than double within weeks, with families facing substantial additional costs. For instance, a family of three earning $70,000 annually could pay an extra $3,017 in premiums next year, while a couple earning $85,000 might face an additional $18,080—more than a fifth of their income.
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