A survey released by the New York Federal Reserve on the 8th found that nearly half of businesses, primarily in the mid-Atlantic region, have not yet passed on cost increases from tariffs imposed by U.S. President Trump on imports. The survey covered firms in New York State, Connecticut, parts of New Jersey, Puerto Rico, and the U.S. Virgin Islands. Just under a third said they plan to raise prices in the next six months, and a notable number indicated plans for longer-term price hikes. New York Fed economists noted that nearly half of the firms that paid tariffs plan further price increases to offset costs, with some looking more than six months ahead, suggesting that inflationary pressure from tariffs is likely to persist for some time. Reasons cited for not immediately passing on higher costs include constraints from existing contracts and gradual price increases to avoid shocking customers.