Cooler-than-expected U.S. inflation soothed investors, but U.S. President Donald Trump’s 25% tariffs on steel and aluminum imports have kicked off a tariff war.

Consumer prices rose 2.8% from a year earlier, data revealed. It’s a deceleration from January, but doesn’t appear to be enough to warrant an immediate interest rate cut.

Inflation slowed more than expected in February and cooled for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.

US inflation came in at 2.8 per cent last month from a year ago, down from 3.0 per cent in January. While easing inflation is a relief for policymakers, the latest reading is just the lowest since lat