Inflation slowed to the lowest point in four years last month, but progress in reining it in will likely end there as higher tariffs start to push up the cost of consumer goods. The consumer price index climbed 2.

Inflation rose less than expected in April, as prices rose 2.3% over the year, down from 2.4% in March. Prices for gas and groceries fell, but housing and eating at restaurants got more expensive. Inflation was slightly milder than forecasters had expected, before consumers faced the full brunt of President Donald Trump's import taxes.

Core inflation remained more or less unchanged last month, a setback for anyone hoping the Federal Reserve will move quickly to lower interest rates. Cuts are even less likely in the near term because the latest trade negotiations with China should reduce the threat of a U.

The crypto market stood at $3.4 trillion as the Consumer Price Index (CPI) in April stood at 2.3% over the last 12 months, the Bureau of Labor Statistics reported on May 13. The Federal Reserve has set an inflation target of 2%. As per Kraken's price feed, Bitcoin was trading at $103,587 at press time.

Consumer prices rose again in April after a rare decline in the prior month, leaving inflation above the Federal Reserve’s 2% target as households and businesses grappled with the fallout from the Trump trade wars. The consumer-price index increased 0.2% last month, the Bureau of Labor Statistics said Tuesday, matching Wall Street expectations.

April’s inflation report could show tariffs’ effects, although some analysts say businesses are working through stockpiled inventory and are hesitant to raise prices yet.