The U.S. Federal Reserve in May warned that America is facing an increased risk of stagflation. Inflation data for April somewhat assuages that fear.

Broken down by category, some of the sectors most impacted by tariffs saw a price decline from last month, including apparel and used cars and trucks.

News that the U.S. and China have drastically reduced reciprocal tariffs for 90 days as they continue trade talks has already put a dent in rate-cut expectations.

Consumer prices were up 2.3% in April from a year earlier, the Labor Department reported Tuesday.

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

The federal Bureau of Labor Statistics reported on Tuesday that its consumer price index for the 25-county region that includes the Island rose 3.9% in April compared with a year earlier. That year-over-year increase was a bit faster than March’s 3.8% but slower than February’s rate of 4.2%.

The crypto market stood at $3.4 trillion as the Consumer Price Index (CPI) in April stood at 2.3% over the last 12 months, the Bureau of Labor Statistics reported on May 13. The Federal Reserve has set an inflation target of 2%. As per Kraken's price feed, Bitcoin was trading at $103,587 at press time.