US wholesale prices sank in April, logging their biggest monthly drop since Covid stifled the economy, as tariffs put a squeeze on profit margins, according to new data released Thursday.

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. The reading -- which marked the lowest inflation rate since 2021 -- matched economists' expectations.

The US CPI is rising at the slowest rate in more than four years, but economists believe consumers will soon see the effects of President Trump's tariffs.

The Federal Reserve is likely to keep interest rates on hold in the near term following another inflation reading that didn't make things any easier for the central bank. A new look at the Consumer Price Index (CPI) for April showed that prices remained sticky despite some signs of cooling,

Tuesday's report could provide an early read on how Trump's duties will affect the prices Americans pay for necessities and other goods such as clothing, shoes, furniture and even groceries.

US consumer prices declined in April, but the full impact of tariffs may not be showing yet. TD Securities' Oscar Munoz discusses what this means for interest rates and markets.

The precious metal will keep rising higher, but it's not because investors are afraid of inflation, says billionaire investor David Einhorn.

Another potentially encouraging inflation report this week could be at least partly traced to a surprising source: President Donald Trump’s sweeping tariffs. The import fees are expected to ...

The state of Michigan's financial picture has eroded considerably since January 2023, when the state was sitting on a $9.2-billion budget surplus.