Monument and Gravestone Makers Confront Tariffs and Rising Cremation Rates

Nearly a century passes as families such as John Dioguardi’s craft custom headstones and memorial markers. They keep a long tradition alive. Rome Monument, a family business in western Pennsylvania, now faces hard challenges that shake its future.

Dual Pressures: Tariffs and the Shift Toward Cremation

An industry of small, family-run companies meets two heavy forces. One force comes from tariffs on imported granite. The other force comes from a rising shift to cremation.

• Tariffs hit imported granite, a key raw material, and raise production cost.
• The climbing use of cremation cuts demand for burial markers.

The Tariff Impact

Tariffs, set by recent trade policies, nearly double on some imports. This change hurts profits. Jim Milano from Milano Monuments in Cleveland saw duties jump from about 29% to 59% on granite shipped from China in one year.

Producers now take new steps:

• Suppliers get granite from India instead of China, where rates stay low.
• Unique granite types, like India’s multi-colored aurora granite, are not found in the U.S.
• Companies bear extra costs so that families do not face sudden price hikes.
• Some businesses add clauses in contracts that let prices change with tariff moves.

Operational Challenges and Industry Uncertainty

Each monument is made to order, making the work slow and planning hard. Long lead times turn scheduling and pricing into a worry when tariffs shift in the middle of production. Nathan Lange, President of Monument Builders of North America, sees this unknown as the hardest test.

Granite wholesalers like Kentucky’s PS Granite also find it hard to set prices and create steady marketing materials as tariff rates change often.

Cremation’s Growing Influence on Memorialization

Even before tariffs changed, cremation had already reshaped the field:

• Cremation rates passed 60% in 2024 and are set to rise. Later, more than two-thirds of bodies may be cremated.
• This trend makes monument makers craft new memorials like pedestal markers and tributes especially for cremation.
• John Dioguardi’s team now also works on items such as a "rainbow bridge" memorial for pet ashes.

Navigating Toward a New Future

As costs rise and burials shrink, companies like Rome Monument stretch to serve wider areas and sometimes buy related businesses. Jim Milano worries that higher prices may push more customers toward cremation and shrink monument sales even more.

Across the border in Canada, the market feels the strain too. With cremation expected to top 80%, the falling demand now stops tariffs from being passed on as much.

John Dioguardi sees the shift in culture. Ancient peoples built pyramids to honor their dead. Today, with few memorials, the very base of his craft is in question. The task before monument makers is to show families a lasting worth in memorial products.

Summary:
The monument and gravestone field, built on a long tradition, finds itself at a turning point. Tariffs on granite push up costs, and more people choose cremation over burials. Businesses respond with new ways to get granite, new contract rules, and new products. Yet the future remains uncertain.

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Consumer Confidence Plunges to Lowest Level Since April Amid Growing Job Market Concerns

Published: November 25, 2025 | Updated: 2 hours ago
By Jeff Cox | @jeff.cox.7528 | @JeffCoxCNBCcom

Consumer confidence in the United States dropped sharply since April 2025. Consumers worry more about the job market, as a new survey from the Conference Board shows. In this report, words join closely with their subjects and verbs, making the links clear and the ideas easy to follow.

Key Findings from the Conference Board Survey

• The November Consumer Confidence Index fell to 88.7. This drop of 6.8 points from October marks its lowest score in seven months.
• Economists in the Dow Jones poll expected a score near 93.2, which did not occur.
• The Expectations Index sank by 8.6 points to 63.2, and the Present Situation Index slid by 4.3 points to 126.9. Dana Peterson, chief economist at the Conference Board, said, "This data shows that consumers feel more negative about business conditions in the next six months. Labor market views for mid-2026 look poor, and ideas of growing household income have shrunk after many months of good signals."

Employment Concerns Deepen

A key part of the report shows a drop in hope for jobs:

• The percentage of workers who call jobs “plentiful” fell from 28.6% in October to 6% in November.
• In contrast, those who say jobs are “hard to get” edged down to 17.9%, which fits a current no-change hiring trend.

Recent payroll numbers from ADP add to this view, as private companies shed about 13,500 jobs over the past four weeks.

Consumer Sentiment Weakening More Broadly

Other surveys agree on falling consumer feelings:

• The sentiment index from the University of Michigan dropped by 4.9% in November from the previous month and is now 29% lower than a year ago.

These lower expectations have led some Federal Reserve policymakers to speak in favor of more cuts in interest rates to move the economy. Market traders now see a strong chance of a quarter percentage point rate cut coming in December.

Influencing Factors and Future Expectations

Peterson explains that many cost worries hit consumers across income levels and political views. These include:

• Rising prices from inflation
• New tariffs and limits in trade
• Signs of political unrest, as news of the recent federal government shutdown grows

Inflation guesses have now risen to about 4.8% one year out. This rise goes past the Federal Reserve’s 2% mark and the University of Michigan’s view of 4.5%.

Despite the hard times for the economy and work, consumers hold a strong, positive view of the stock market for the coming year.

Impact of the Government Shutdown

Data has been affected by the recent federal government shutdown. The shutdown stopped data collection for a bit and pushed back many reports. Only a few, mostly old, reports have come out since it ended.

For ongoing updates and clear analysis on consumer feelings, job trends, and economic outlooks, keep in touch with CNBC Pro and sign up for their newsletters.

© 2025 CNBC LLC. All Rights Reserved. Data is delayed at least 15 minutes. For more global business and financial news, visit CNBC’s Market Data and Analysis sections.

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Core Wholesale Prices Rise Less Than Expected in September; Retail Sales Show Moderate Gains

Published: November 25, 2025

Recent reports from the Bureau of Labor Statistics show wholesale prices softening. They point to modest gains in retail sales. These numbers shine a light on the U.S. economy as it faces high costs.

Producer Price Index Highlights Subdued Core Inflation

The Producer Price Index tracks prices that producers earn for goods and services. It rose by a seasonally adjusted 0.3% in September. Analysts had this rise in mind when they set the Dow Jones numbers. The core index, which does not include food and energy, climbed only 0.1%, under the expected 0.2%. In August, both headline and core measures fell by 0.1%, marking a small drop at wholesale. Over the past year, the headline index is up 2.9%, and the core index increased 2.6%. Goods prices drove the PPI up by 0.9%—the biggest increase since February 2024—while service prices stayed almost the same.

Energy and Food Prices Show Notable Movements

Final-demand energy prices jumped 3.5%. Gasoline prices were up 11.8%. Food prices increased by 1.1%. In services, transportation and warehousing prices rose 0.8%. Airline passenger fees climbed by 4%. These points show sectors where prices moved higher even as core inflation stayed soft.

Retail Sales Demonstrate Steady Consumer Spending

The U.S. Census Bureau records retail sales up by 0.2% in September. This is just below the 0.3% forecast. Without automobile sales, the growth reached 0.3%, which met expectations.

Key retail segments showed different results:

• Miscellaneous retailers climbed by 2.9%.

• Gas station sales grew by 2% as fuel prices increased.

• Sporting goods, hobby, and music stores dropped by 2.5%.

• Online sales slipped by 0.7%.

Sales at eating and drinking spots rose by 0.7% over the month and by 6.7% compared to last year. Annually, retail sales advanced by 4.3%, outpacing the 3% rise in the Consumer Price Index. This gap underscores steady consumer spending despite rising prices.

Impact of Government Shutdown on Data Releases

Some official economic reports have been delayed because of a government shutdown. The Bureau of Labor Statistics has canceled the October Consumer Price Index report. There is worry that the October Producer Price report might also be canceled. The next CPI update comes on December 18. Usually, the Producer Price report is timed with the CPI release.

Overall, the September figures show softening wholesale inflation as consumers spend with care. Market watchers will follow new data to see clearer signs on inflation and economic speed.

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Fed Lacks Key Inflation Data Ahead of December Rate Decision as BLS Cancels October CPI Release

Washington, D.C., November 21, 2025 — The U.S. Federal Reserve finds itself without needed inflation data as it nears its December 10 interest rate decision. The Bureau of Labor Statistics (BLS) canceled the October Consumer Price Index (CPI) report, leaving the Fed with a gap in its price measure.

The October CPI report was set for release on November 7. A government shutdown stopped the BLS from collecting key survey data. This loss means the Fed does not have a strong measure of inflation while it sets monetary policy.

Why Was the October CPI Canceled?

The BLS explained on its website that the shutdown made data collection in person and via phone impossible for October. The agency relies on these methods to track price changes. Some information comes from online sources and household surveys, but without close, in-person data the report would be incomplete. This is why the BLS chose to cancel the report instead of providing a partial one.

Impact On Upcoming CPI and Inflation Measures

Missing October data affects the November CPI report. The report is now delayed until December 18—one week after the Fed meets on December 10. This delay makes it harder for the Fed to see the latest price trends when it makes a decision.

The Commerce Department’s Bureau of Economic Analysis (BEA) also has a change. The Personal Consumption Expenditures (PCE) price index—the Fed’s favored gauge—will not be released on November 26. No new release date is given for this key measure.

Fed Officials Concerned About “Data Fog”

Fed policymakers share worry over the missing data. After a late October meeting, which led to a 0.25% rate cut, the minutes showed concern over making choices with incomplete data.

At that meeting, Fed Chair Jerome Powell said, “What do you do if you’re driving in the fog? You slow down. … There’s a chance that it would make sense to be more cautious about moving." Powell stressed that the data gap is temporary and promised that the Fed would study all available numbers.

Some Fed officials keep a hopeful view:

• New York Fed President John Williams shared on Friday that the bank might still act, hinting that more rate cuts could come soon.
• Meanwhile, Fed Governor Christopher Waller said that even with the missing data, the bank has enough to guide its choices.

What This Means for Markets and Monetary Policy

Missing timely inflation data adds uncertainty as the Fed meets on December 10. The market usually looks to inflation data and Fed signals as a pair. Without fresh numbers, investors and decision makers may choose a slower pace.

The Fed now must balance worries over rising prices and steady growth with fewer numbers at hand. This gap raises the importance of upcoming data and new Fed updates.

For more detailed coverage and expert analysis on the Fed’s monetary policy and inflation trends, subscribe to CNBC PRO and join the Investing Club.

Summary of Key Points:

• The BLS canceled the October CPI release due to the shutdown stopping key data collection.
• November CPI data is now set for December 18, after the Fed’s December 10 rate decision.
• The PCE price index release is delayed without a new date.
• Fed leaders worry about a “data fog” that makes policy decisions harder.
• Fed officials have mixed views on how much the missing data will affect their actions.
• Market watchers wait for updated inflation numbers after the Fed meeting.

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