The improvement in inflation comes as President Donald Trump secures a couple of important trade deals. Consumer prices rose less than expected in April, with the pace of annual inflation falling to its lowest level since early 2021, the Bureau of Labor Statistics reported on Tuesday.

Inflation may have picked up slightly last month as President Donald Trump’s widespread tariffs kicked in, a trend economists expect will become more visible in the coming months.

Lower gasoline prices in April weren’t enough to prevent a gain in overall energy prices relative to March. The overall energy index climbed 0.7% month over month in April, after falling 2.4% in March.