Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

Cooling inflation could shift gold prices — but other factors may have more of an impact right now. Here's why.

If you haven't seen the latest inflation data, the general idea is that prices are rising more slowly than expected. Not only is this the lowest inflation figure since early 2021, but it was one-tenth of a percentage point lower than economists had expected.

These are today's mortgage and refinance rates. Mortgage rates often drop when inflation eases. But we still haven't seen the full effects of tariffs.

The improvement in inflation comes as President Donald Trump secures a couple of important trade deals. Consumer prices rose less than expected in April, with the pace of annual inflation falling to its lowest level since early 2021, the Bureau of Labor Statistics reported on Tuesday.

German inflation eased further to 2.2% in April, the federal statistics office said on Wednesday, confirming preliminary data.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.

Rising rent prices were a major factor pushing up consumer prices in April. While they’re expected to come down in the months ahead as the U.S. economy slows, the path ahead will be bumpy, according to data from real-estate companies.