U.S. stock index futures moved higher on Tuesday after a lower-than-expected inflation report boosted expectations that the Federal Reserve was on track to lower borrowing costs this year. A Labor Department report showed April consumer price inflation rose 0.

Inflation eased to a four-year low in April as the nascent impact of President Donald Trump’s sweeping tariffs were offset by their cost-dampening effects in a slowing economy. Overall consumer prices increased 2.

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.

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.

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.

Argentina's monthly inflation rate slowed more than expected to 2.8% in April, data from national statistics agency INDEC showed on Wednesday, though residents continue to struggle with the South American nation's ever-rising costs.

It's normal for some prices to rise at a much faster pace than overall inflation, said Omar Sharif, founder and president of research firm Inflation Insights. The impact, he added, depends on the role such items play in a given person's finances.