Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.

Tariffs hadn't raised the cost of living as of March, according to Wednesday's report on the Federal Reserve's preferred measure of inflation.

The Conference Board's consumer confidence index declined to its lowest level in five years in April, marking five months of declines and reaching levels not seen since COVID.

Investing.com -- U.S. Federal Reserve Vice Chair, Philip Jefferson, addressed the inflation outlook in light of potential new import taxes during a New York Fed event on Wednesday. Recent data suggested progress toward the 2% inflation target set by the Federal Reserve, but the potential for new import taxes has introduced uncertainty.

Romanian inflation remained unchanged last month as the gravest political crisis since the collapse of communism pushed the leu to a record low which will likely intensify price pressure and complicate the central bank’s wait-and-see approach to monetary policy in the coming month.

Chicago Fed chief Austan Goolsbee called the April inflation report 'comforting' but said he needs to see several more as officials consider rate cuts