U.S. inflation cools, but economists say tariff impact yet to come – National [Video]

Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many business owners expect inflation will climb in the coming months.

Consumer prices rose 2.3 per cent in April from a year ago, the Labor Department said Tuesday, down from 2.4 per cent in March and the smallest increase in more than four years.

On a monthly basis, prices rose modestly, increasing 0.2 per cent from March to April after falling 0.1 per cent the previous month, the first drop in five years.

Grocery prices dipped 0.4 per cent from March to April in what will come as a relief to many people stretching family budgets for the basics. It was the biggest decline in food costs at home since September 2020, the government said.

Egg prices fell sharply, declining 12.7 per cent, the most in 41 years. …