Over the course of April, President Donald Trump imposed large tariffs on goods from every country in the world, pushing America’s average levy on imports to its highest level in roughly a century.

Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many business owners expect inflation will climb by this summer.

Inflation could rise this summer as tariffs are reflected in the data, forecasters say. The US tariff rate is high even after the latest deal with China.

Tuesday’s report could provide an early read on how Trump’s duties will affect the prices Americans pay for necessities.

U.S. stocks are mixed after overall April inflation eased but a narrower measure stripping out volatile sectors that the Fed eyes remained unchanged.

U.S. stock index futures moved higher on Tuesday after a lower-than-expected inflation report boosted expectations that the Federal Reserve was on track to lower borrowing costs this year. A Labor Department report showed April consumer price inflation rose 0.