US inflation likely accelerated in April after an unexpected cooldown the previous month, with higher tariffs on Chinese goods in particular starting to impact prices.

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 improvement in inflation comes as President Donald Trump secures a couple of important trade deals. Consumer prices rose less than expected in April, with the pace of annual inflation falling to its lowest level since early 2021,