By CHRISTOPHER RUGABER, Associated Press Economics Writer

WASHINGTON (AP) — Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many businesses expect inflation will climb in the coming months.

Consumer prices rose 2.3% in April from a year ago, the Labor Department said Tuesday, down from 2.4% in March and the smallest increase in more than four years. On a monthly basis, prices rose modestly, increasing 0.2% from March to April after falling 0.1% the previous month, the first drop in five years.

Grocery prices fell 0.4%, pulled down in part by a big 12.7% drop in the price of eggs. It was the biggest decline in food costs at home since September 2020, the government said.

The report suggests the tariffs haven’t yet impacted the prices of many items. Clothing costs fell 0.2% from March to April, while new car prices were unchanged. Furniture costs jumped 1.5%, however.

Trump has also imposed 25% tariffs on nearly all imports of steel and aluminum as well as the 10% universal duty that he announced April 2 and that took effect a few days later. His huge 145% import taxes on Chinese goods were reduced to 30% in a deal announced Monday.

Still, economists say average tariffs are now at about 18%, roughly six times higher than before Trump took office.

It will likely take more time for the full impact of the duties to be reflected in prices across U.S. businesses, economists say. Items that were already in transit when the tariffs were imposed won’t have to pay the duties, while many companies have built a stockpile of goods and could hold off on price hikes in hopes that tariffs will ultimately be reduced.