Will Trump’s policies soon affect your wallet? Leading economist shares alarming prediction

Torsten Slok, the chief economist at Apollo, issued a warning for U.S. consumers of what to expect at the end of the year.

In an interview with Bloomberg, Slok on Thursday said that the President Donald Trump’s tariffs will push prices higher until inflation is expected to peak in November or December.

Slok said that he “absolutely” believes that inflation has already caused a “lift off” on consumer goods. Data released from the Bureau of Labor Statistics on Tuesday showed that inflation accelerated in June, signaling that Trump’s trade wars are leaving an initial impact on the economy.

“We are seeing goods inflation, which makes up 40% of the CPI basket, seen on a number of different categories: tools, toys, apparel, furniture,” Slok said. “We’ve seen a fairly…