The Consumer Price Index (CPI) report in the United States for April showed that inflationary pressures have eased during the first month in which a number of tariffs announced by President Donald Trump were implemented, indicating a relative slowdown in the pace of price increases.

The latest data released by the U.S. Bureau of Labor Statistics indicated that the Consumer Price Index rose by 2.3% year-on-year in April, down from the annual increase of 2.4% in March, and less than economists' expectations, which indicated an annual increase of 2.4%.

On a monthly basis, prices increased by 0.2%, compared to a decline of 0.1% in March, which is a better outcome than the expectations that indicated a monthly increase of 0.3%.

When looking at the core inflation rate, which excludes the most volatile prices such as food and energy, prices in April recorded an increase of 0.2% compared to the previous month, higher than the March increase of 0.1%, but still below analysts' expectations of 0.3%. On a year-on-year basis, core prices rose by 2.8%, the same rate recorded in the previous month, aligning with expert forecasts.

This report comes less than 24 hours after the strong rise witnessed in the markets following the announcement of a 90-day trade truce between the United States and China, where the two countries decided to suspend a large number of tariffs.