The latest consumer price index shows inflation cooling, so did President Trump's tariffs have a smaller impact than expected? Stephen Kates, Bankrate Financial Analyst, breaks down what the new numbers mean for consumers.

The Consumer Price Index in April rose 2.3% on an annual basis, signaling that price hikes remain above the Federal Reserve's goal of bringing down inflation to a 2% rate. The CPI was forecast to rise 2.

Inflation rose slightly less than expected in April despite the arrival of President Donald Trump's sweeping international tariffs early in the month, according to a Bureau of Labor Statistics report on Tuesday.

Inflation slowed to the lowest point in four years last month, but progress in reining it in will likely end there as higher tariffs start to push up the cost of consumer goods. The consumer price index climbed 2.

Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.

Retail egg prices in the United States fell last month after setting records at the start of the year, according to government data.

CPI shows the 2% inflation target nearing, hinting at possible Fed rate cuts. Explore key market reactions and what this means for your investments.

Shelter costs, the consumer price index’s measure of how much people pay for housing, were up again last month. The sector, a persistently inflationary category, is proving a headache for economists and Fed officials looking to rein in price growth.