The slowdown in inflation could be a temporary respite until the widespread duties imposed by Trump begin to push up prices in many categories. Economists forecast that inflation could reverse its recent decline and reach 3% or higher by the end of this year.

A closely watched inflation gauge cooled last month in a sign that prices were steadily easing before most of President Trump’s tariffs were implemented. At the same time, consumers accelerated their spending,

President Donald Trump has notched the first 100 days of his second term, putting a spotlight on how inflation and other key issues have fared under his first few months in office.

The U.S. economy shrank 0.3% from January through March, first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before President Donald Trump imposed massive tariffs.

US President Donald Trump on Wednesday stated that tariffs imposed by his administration could lead to American children having “two dolls instead of thirty,” but China would suffer more from the trade war, reported Associated Press. Also Read: Donald Trump says tariff talks with India going great, expects a trade deal soon