e.l.f. Cosmetics raising prices by $1 starting in August

LOS ANGELES -- Oakland-based e.l.f Cosmetics, known for its affordable and cruelty-free makeup and skincare products, announced it's raising prices by $1 starting in August.

The company made the announcement on Instagram, saying the increase will go into effect August 1.

"Bringing you the best of beauty is getting more $$$ but we're committed to keeping the quality high and prices e.l.f.fordable," read the caption. "We are keeping an [eye] on the tariff situation as it evolves."

The U.S. Department of Labor reported prices for furniture and bedding rose more than times faster than overall prices last month.

Walmart and Nike are among other companies forced to raise prices due to tariffs.

Apple also faces a 25% tariff by the end of June if it doesn't move all of its iPhone production to the U.S., but experts said moving production would likely triple the cost of an iPhone to an estimated $3,500.