The report suggests the tariffs haven't yet impacted the prices of many items. Clothing costs fell 0.2% from March to April, while new car prices were unchanged. Furniture costs jumped 1.5%, however.

Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many business owners expect inflation will climb by this summer.

Inflation is getting closer to the Federal Reserve's 2% target.