Inflation rose less than expected in April, as prices rose 2.3% over the year, down from 2.4% in March. Prices for gas and groceries fell, but housing and eating at restaurants got more expensive. Inflation was slightly milder than forecasters had expected, before consumers faced the full brunt of President Donald Trump's import taxes.

Subscribe to Economics Daily for the latest news and analysis.Americans’ expectations for inflation in the medium-term climbed to an almost three-year high in April while their views on the job market worsened,