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.

The Consumer Price Index jumped 2.3% in April from the year before, below March’s 2.4% increase, the Bureau of Labor Statistics said Tuesday.

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.