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.

It's hard to keep track of when tariffs start; some are already here, and President Donald Trump has floated more.

The drop comes amid growing fears and political backlash over his Liberation Day tariffs, which have sparked economic uncertainty.