The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from March, according to Bureau of Labor Statistics data out Tuesday. Compared with April of last year, the core CPI rose 2.8%, unchanged from the prior month. The overall CPI advanced 0.2%, and climbed 2.3% on an annual basis.

Inflation could rise this summer as tariffs are reflected in the data, forecasters say. The US tariff rate is high even after the latest deal with China.

S&P500 and Dow slip as Walmart warns of price hikes from tariffs. Weak producer inflation data and mixed retail sales cloud US stock market forecast today.

The dollar fell and major U.S. stock indexes rose on Tuesday on news that U.S. consumer inflation picked up less than expected in April when President Donald Trump unveiled a raft of tariffs that has wreaked havoc on global markets.

US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.

DXY extends Tuesday’s CPI-driven slide, falling to 100.58. Weaker inflation data fuels Fed rate cut bets and adds pressure to the U.S. dollar.

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.

S&P Global has downgraded GDP forecasts across most regions and raised its US inflation outlook, citing growing downside risks and heightened uncertainty. While a US recession is not currently projected,

Across the pond, Gross Domestic Product (GDP) figures suggested the economy is stronger than expected, exerting pressure on the Bank of England (BoE) to keep interest rates on hold. In the 3 months to March, GDP rose by 0.7%, up from 0.1% in the previous reading, bearing the 0.6% growth foreseen by economists and the BoE.

Gold prices rose on Tuesday on bargain-hunting after a sharp loss in the previous day, while softer-than-expected inflation data from the U.S. also lent support.