US monthly inflation rate slows amid Trump tariffs

The pace of inflation slowed in April, the month that Donald Trump announced his sweeping "liberation day" tariffs on the US's largest trading partners. The annual inflation rate was 2.3% in April, down from an annual rate of 2.4% March, according to a new inflation report from the Bureau of Labor Statistics (BLS). Core inflation, which excludes volatile energy and food prices, hit an annual rate of 2.3% in April, compared with an annual 2.4% increase in March. While the inflation report covers April, after Trump's announcement, it comes as businesses are still trying to figure out the impact of…