Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

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.

Because it's based on third-quarter inflation, it's impossible to predict the 2026 COLA with any degree of accuracy. Because of the ongoing tariff back-and-forth, as well as a generally slowing U.S. economy, the inflation rate on the back end of the year is more uncertain than it usually is.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.

German inflation eased further to 2.2% in April, the federal statistics office said on Wednesday, confirming preliminary data.

Inflation eased in April with drops in gas and egg prices, but ODU's Bob McNab warns tariffs could drive prices back up this summer.

Spain's European Union-harmonised 12-month inflation rate remained at 2.2% in April from the period through March, final data released by the National Statistics Institute, or INE, showed on Wednesday.