'Inflation is off': Trump comes to baptism in the midst of the impact of rates; JP Morgan warns against 'calm before storm' | Today news

The US Inflation data has a surprise as a US awaits an impact on the trading tariff with President Donald Trump calling out: ‘Inflation is off !!!’ about truth socially. US consumer prices unexpectedly dropped in March amid cheaper gasoline and used motor vehicles – the first monthly drop in prices in almost five years – in a sign of softening the demand amid increased fear of the recession due to rates. The Consumer Price Index (CPI) cooled to 2.4 percent in March from a year ago, the Department of Labor said in a statement. On a monthly basis, inflation actually contracted 0.1 percent compared to a month before, aided by a 6.3 percent drop in petrol prices, which helped a 2.4 percent contraction in the energy index. The food index rose 0.4 percent in March. David Kelly, main worldwide strategist at JP Morgan Asset Management, warned against a ‘calm before the storm’, as Donald Trump waged a war against the global economy by announcing fierce rates. “This is the calm before the inflation form. We’re going to get higher inflation from the rates,” David Kelly said, adding, ‘What we see is a lot of tenderness in the travel industry, which I think will get worse the following year.’ Meanwhile, Federal Reserve official Jeff Schmid also warned against a ‘clear increase’ in the risks of higher inflation and slower economic growth. While Donald Trump announced 90-day breaks at higher reciprocal rates on Wednesday than 24 hours after it came into effect, the import of most countries is now subject to 10 percent duties. Meanwhile, S&P 500 dropped 2 percent despite the encouraging inflation data (with agency inputs) first published: 10 Apr 2025, 08:09 IST