But new consumer-price data from the Bureau of Labor Statistics (BLS) is likely to negate President Donald Trump’s ongoing assertion that there is “no inflation” in the U.S. economy. For the period covering the past 12 months,

Consumer prices rose 2.3% in April compared to a year ago, cooling slightly from the previous month and defying fears of an inflation surge in the aftermath of President Donald Trump's "Liberation Day" tariffs last month.