US inflation slowed unexpectedly in April on a yearly basis in the first full report since President Trump’s sweeping tariffs took effect. The Consumer Price Index rose 2.3% in April from a year earlier,

US inflation slowed for the third month in April despite new Trump tariffs. Economists warn this may be temporary with price pressures likely to rise.

Recent inflation data point to continued progress toward meeting the U.S. Federal Reserve's 2% inflation goal, but the outlook is now uncertain due to the possibility new import taxes will drive prices higher,