May 13, 2025- 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, according to ABC News. Economists and many business owners expect inflation may climb in the coming months due to ongoing tariffs, according to AP News. The recent report on inflation from the U.S. Labor Department, from Tuesday, suggests the tariffs haven’t yet impacted the prices of many items.