The Globe and Mail reports in its Wednesday, May 14, edition that U.S. consumer prices saw a moderate rebound in April, as falling food costs helped offset rising rents, resulting in the smallest annual increase in four years. A Reuters dispatch to The Globe reports that these data, reported by the Labor Department, fell short of economists' expectations and showed limited impact from President Donald Trump's tariffs, whose effects are anticipated later this year. The findings indicate that price pressures are easing, supporting economists' belief that the Federal Reserve will pause its interest rate cuts until late summer. Despite a recent truce in the U.S.-China trade war, a 10-per-cent duty on most imports and sectoral tariffs remain in effect. LPL Financial economist Jeffrey Roach says: "Improvements in global trade will provide some clarity on the future path of inflation. However, the uncertainty about what might happen after these temporary trade deals makes things difficult for the Fed since stagflation remains a risk. If the fog does not clear, the Fed might not be able to adjust policy in June." Businesses boosted inventories in the first quarter ahead of the tariffs, which could account for tame price rises.