U.S. consumer prices rebounded moderately in April as declining food costs partially offset rising rents, leading to the smallest annual increase in four years, but the inflation outlook remains unclear against the backdrop of tariffs.

Price growth has cooled, including in key areas like groceries, but analysts say Trump's evolving trade war has made it harder to get a clear read on the economy.

According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.3% year-over-year, down from 2.4% in March and lower than the expected 2.4% growth.