The US CPI inflation rate declined for three consecutive months in April, falling to 2.3%, further moving towards the Federal Reserve's 2% target. However, Barclays economists write that the April data may be a recent low for the time being. “We expect the May CPI report to show initial signs of tariff-related price pressures. The high-frequency data we track shows that there is potential upward pressure on prices in a wide range of core product categories such as clothing, home furnishings, new cars, and 'other' products.”

The US CPI inflation rate declined for three consecutive months in April, falling to 2.3%, further moving towards the Federal Reserve's 2% target. However, Barclays economists write that the April data may be a recent low for the time being. “We expect the May CPI report to show initial signs of tariff-related price pressures. The high-frequency data we track shows that there is potential upward pressure on prices in a wide range of core product categories such as clothing, home furnishings, new cars, and 'other' products.”