Consumer prices rose 2.3 per cent in April from a year ago, down from 2.4 per cent in March and the smallest increase in more than four years.

The Consumer Price Index jumped 2.3% in April from the year before, below March’s 2.4% increase, the Bureau of Labor Statistics said Tuesday.

The dollar fell and major U.S. stock indexes rose on Tuesday on news that U.S. consumer inflation picked up less than expected in April when President Donald Trump unveiled a raft of tariffs that has wreaked havoc on global markets.

Economists at Goldman Sachs Group Inc. boosted their forecasts for US inflation this year and next, in part to account for a weaker dollar following the Trump administration’s tariff announcements.

Gold prices had surged to multiple record highs in 2025, driven by concerns over economic slowdowns following U.S. President Donald Trump's sweeping tariffs, strong central bank buying, geopolitical tensions, and increased investment in gold-backed exchange-traded funds.

Our survey shows economists expect slower growth and see a recession as more likely. They were pessimistic a year ago, too, and were wrong.

S&P Global has downgraded GDP forecasts across most regions and raised its US inflation outlook, citing growing downside risks and heightened uncertainty. While a US recession is not currently projected,

The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs now at 100-year highs and warning that rising trade tensions would further slow growth.

US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.