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.

Producer Price Index, a measure of wholesale costs, fell 0.5% in April. Margins are squeezed by tariffs and firms will likely pass costs to consumers

Prices paid to US producers unexpectedly declined in April by the most in five years, largely reflecting a slump in margins, suggesting companies are absorbing some of the hit from higher tariffs.