Don’t get used to the decline in the U.S. rate of inflation to a four-year low. Inflation will probably rise, at least temporarily, even after the Trump administration reduced high tariffs.

A new report showed inflation eased in April but it may be the last good report the country sees before the impact of President Trump's tariffs hit the economy. NBC News' Christine Romans explains more.

Inflation eased to a four-year low in April as the nascent impact of President Donald Trump’s sweeping tariffs were offset by their cost-dampening effects in a slowing economy. Overall consumer prices increased 2.

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.

Argentina's monthly inflation rate slowed down to 2.8% in April, below analysts' average estimate of 3.1%, data from national statistics agency INDEC showed on Wednesday. The rate came in at 3.7% in March.