Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

US inflation slowed to its lowest rate in more than four years, an unexpected and welcome development at a time when President Donald Trump’s dramatically escalated tariffs are expected to cause prices to rise.

The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.

Inflation rose slightly less than expected in April despite the arrival of President Donald Trump's sweeping international tariffs early in the month, according to a Bureau of Labor Statistics report on Tuesday.

The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US producers dropped 0.5% in April from the month before, a much softer reading than economists expected, while inflation slowed on an annual basis to 2.4%, from 2.9% in March, according to Bureau of Labor Statistics data.

The Federal Reserve will have little reason to change its wait-and-see stance as a result of April's inflation reading from the consumer-price index. The figures were largely in line with the expectations of forecasters who closely track how the Labor Department measures inflation.

Israel's annual inflation rate rose unexpectedly in April to 3.6%, according to data on Thursday from the Central Bureau of Statistics that will likely keep policymakers from reducing interest rates soon.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.

Surprising inflation data and weak retail sales spark a sharp crypto selloff, with Bitcoin down over 3% and Coinbase sliding in premarket trading.

Nigeria's headline inflation rate fell slightly in April, to 23.71% year on year from 24.23% in March, data from its statistics agency showed on Thursday.