The Trump administration said early Monday that it had reached a deal with China to sharply reduce its tariffs on imports from that country. But even taking that agreement into account, U.S. average import taxes remain at 90-year highs, economists said, which could worsen inflation in the coming months.

Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.

NEXT examines the layered challenges small business owners face in 2025: the threat of inflation, uneven consumer demand, and growing labor pressure.

By Pranoy Krishna BENGALURU (Reuters) -Indian consumer inflation likely eased to a near six-year low in April after a further moderation of food price rises, keeping it below the Reserve Bank of India's 4% medium-term target for a third straight month,