A new CBS News poll has found that 65% of Americans say President Trump's policies are forcing grocery prices to jump. CBS News MoneyWatch correspondent Kelly O'Grady has more.

Washington

A recent CBS News poll indicates that 65% of Americans attribute rising grocery prices to policies enacted by President Trump. The poll also shows that only 32% of Americans view the economy positively, a decrease from earlier in the month, as holiday spending is expected to exceed $1 trillion for the first time, partly due to higher prices.

While tariffs are cited as a factor in the increased cost of certain imported goods like coffee and tropical fruits, other causes such as drought and supply shortages are also contributing. Retailers are responding to consumer concerns with significant discounts, and some stores are offering affordable holiday meal deals to help mitigate the impact of higher prices.

65% of Americans think Trump policies raising grocery prices: CBS poll

For the first time, the National Retail Federation expects holiday spending to exceed a trillion dollars this year, partly due to high prices. A new CBS News poll shows just 32% of Americans think the economy is currently in a good place. That's down 3% from earlier this month. CBS News Money Watch correspondent Kelly O'Grady is here with us in Studio 57. So, Kelly, the CBS News poll actually finds a majority of Americans feel that prices in general have been going up the past few weeks. Which items right now are seeing the biggest cost increases and decreases? So, it's a bit of a hodgepodge because I think there's how Americans feel, and then when you look at the data, there are some items, especially food items, you know, you see coffee, you see meats, those types of things. Of course, turkey, everyone's thinking about that this time of year is going up. But then there are also some of those other items that are really important this time of year with heating your home. Utility gas is one, electricity costs, those have been going up and up and up. On the other side, though, there are a lot of food items like eggs and rice and ice cream that have gone down. Apparel also, as you're going into the holiday season, a lot of folks are out there buying clothes. That has come down. I think what's important to think about, though, this time of year, you're going to see a lot of discounts from retailers because they are aware of what you just said, that people feel like prices have gone up and they still need to get us in the door. So, this week, Black Friday, right, you got a lot of sales. That's what you should be keeping an eye on. Even with tariffs. Even with tariffs. Retailers, we know from earnings calls, have absorbed a lot of the cost. And it's not that 140%, right, that we had with China for a very specific period of time. It's more about 10, 20% where the country tariffs landed. So, they're absorbing that, trying to get us in the door because this is their most important time of the year, right? They need to turn over that inventory. So, our polls show 65% of Americans say that President Trump's policies are causing grocery prices to jump. You just touched a little bit. But which policies are behind the price increase? So, the price increase that you're seeing on items like coffee, okay, some of it is coming from tariffs. Same with some of the types of items, tropical fruits, things that you can't really produce here in the U.S. If that's coming into the U.S., some of that price increase is from a tariff. That being said, there are also many other reasons that prices are going up, like drought and just supply shortages that have nothing to do with the administration's policies. But as a consumer, you just see tariffs, tariffs, tariffs. That must be why certain items are growing up at the grocery store. It's not always tied to an admin policy. How is this going to affect Americans as they prepare for their holiday meals? Some of the things are going to go up, but what I will say is look at Walmart, look at Aldi. They're having these Thanksgiving meal deals where you can get, you know, $40 for a family of 10, your staples. That's somewhere to go if you want to keep the cost low. All right, Kelly O'Grady, thank you.

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