A lot of it has. Most of the overrun in goods prices is from tariffs, which is actually good news because if it weren't from tariffs, it might mean it's from demand - a harder problem to solve.

The other good news is ongoing disinflation in all categories of services, which is a healthy development.

Expectation is that effects of tariffs flowing through goods prices will peak and start to come down over the course of this year, assuming no new major tariff increases.