Inflation barely budged in April as tariffs President Donald Trump implemented in the early part of the month had yet to show up in consumer prices, the Commerce Department reported Friday.

A cooler inflation reading from the month when President Trump's tariffs went full blast likely won't shake the Federal Reserve's stance of holding interest rates steady. The reason: Policymakers still expect price increases later in 2025.

Inflation has edged down, but high housing costs could spark a fresh rise in prices and keep the Fed from cutting rates, Stifel's top economist said.

The cost of living barely rose in April — and the rate of inflation slowed even closer to prepandemic levels — but it’s unclear whether the recent progress can be sustained as the trade wars drag on.

A recent survey from Schroders showed the degree to which inflation is weighing on the minds of retired Americans.

Germany's harmonized consumer inflation fell to 2.1% in May, according to preliminary data. The rate is nearing the European Central Bank's 2% target. Economists polled by Reuters had been expecting the reading to come in at 2%.