The United States inflation data sprung a surprise as America awaits a trade tariff impact with President Donald Trump exclaiming, ‘INFLATION IS DOWN!!!’ on Truth Social. The US consumer prices unexpectedly fell in March amid cheaper gasoline and used motor vehicles – first monthly decline in prices in nearly five years – in a sign of softening demand amid heightened recession fears due to tariffs.
David Kelly, chief global strategist at JP Morgan Asset Management, has warned of a ‘calm before the storm’ as Donald Trump has waged a war on the world economies by announcing hefty tariffs. “It is the calm before the inflation storm. We’re going to get some higher inflation out of the tariffs,” David Kelly said, adding, “What we’re seeing is a lot of softness in the travel industry, which I think is going to get worse over the course of this year.”
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