U.S. consumer prices rebounded moderately in April as declining food costs partially offset rising rents, leading to the smallest annual increase in four years, but the inflation outlook remains unclear against the backdrop of tariffs.

US consumer prices rebounded moderately in April, but inflation is likely to pick up in the months as tariffs boost the cost of imported goods.

Consumer Price Index: +0.2% vs. +0.3% consensus and -0.1% prior, according to data released by the Bureau of Labor Statistics on Tuesday.