Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many businesses expect inflation will climb in the coming months, the Associated Press reports.
Consumer prices rose 2.3% in April from a year ago, the Labor Department said Tuesday, down from 2.4% in March and the smallest increase in more than four years. On a monthly basis, prices rose modestly, increasing 0.2% from March to April after falling 0.1% the previous month, the first drop in five years.
Grocery prices fell 0.4%, pulled down in part by a big 12.7% drop in the price of eggs. It was the biggest decline in food costs at home since September 2020, the government said.
Clothing costs fell 0.2% from March to April, while new car prices were unchanged. Furniture costs jumped 1.5%.
