Inflation slows more than expected in March in first round of data since Trump’s tariffs

US inflation slowed more than expected in March, according to the first month of consumer price data to account for the impact of President Trump’s sweeping tariff wars.

The Consumer Price Index rose 2.4% over the past 12 months through March, below expectations of a 2.6% rise and beneath last month’s 2.8% figure, the Bureau of Labor Statistics said Thursday.

Core CPI, which excludes volatile food and energy prices, came in at 2.8% — also below projections of a 3% jump and February’s 3.1% figure, according to the government data.