Consumer prices rose 2.3% in April compared to a year ago, cooling slightly from the previous month and defying fears of an inflation surge in the aftermath of President Donald Trump's "Liberation Day" tariffs last month. The reading -- which marked the lowest inflation rate since 2021 -- matched economists' expectations.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.

Democrats and their media cheerleaders have been wailing for months that President Donald Trump’s tariff policies would ignite a wildfire of inflation, scorching American wallets. Yet, here we are, with fresh inflation numbers that slap their fearmongering narrative right across the face.

American consumers, battle-scarred by the pandemic and the subsequent surge in inflation, are already changing their spending patterns and delaying some purchases due to President Donald Trump’s chaotic tariff policy and the broader economic uncertainty,

The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

Inflation may have picked up slightly last month as President Donald Trump's widespread tariffs kicked in, a trend economists expect will become more visible in the coming months.

President Donald Trump has some historically low approval ratings, but they are getting better after he has eased up on tariffs, a Reuters poll says.