Inflation eased to a four-year low in April as the nascent impact of President Donald Trump’s sweeping tariffs were offset by their cost-dampening effects in a slowing economy. Overall consumer prices increased 2.

The Consumer Price Index jumped 2.3% in April from the year before, below March’s 2.4% increase, the Bureau of Labor Statistics said Tuesday.

It's normal for some prices to rise at a much faster pace than overall inflation, said Omar Sharif, founder and president of research firm Inflation Insights. The impact, he added, depends on the role such items play in a given person's finances.

Food inflation in April tapered by 20 bps to 2.8%. Downward pressure came from cereals, meat, and dairy products; offset by a spike in non-alcoholic beverages. Energy inflation in Mar-25 weakened by 40 bps to -3.7%. Downward pressure again came from fuel and gasoline; offset by a spike in electricity and piped gas.

The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.

Inflation is getting closer to the Federal Reserve's 2% target.

U.S. consumers spent slightly more at retail stores last month after ramping up their shopping in March to get ahead of tariffs.

Despite a general easing in the weighted index, key goods continue to rise, and tariff impacts loom ahead.

If you haven't seen the latest inflation data, the general idea is that prices are rising more slowly than expected. We recently got a look at consumer price index (CPI) data for April, and the year-over-year inflation rate was 2.