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.

Producer Price Index, a measure of wholesale costs, fell 0.5% in April. Margins are squeezed by tariffs and firms will likely pass costs to consumers

US wholesale prices fell in April, according to new data released Thursday. The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US producers dropped 0.