The August core consumer price index, which excludes food and energy, rose 0.3% from the prior month and was up 2.4% from a year earlier, a Labor Department report showed Sept. 12.

The U.S. trade deficit narrowed in April as exports and imports tumbled, highlighting the impact of President Donald Trump’s tariffs even before negotiations with China unraveled and he threatened levies on Mexican goods.

A key measure of U.S. consumer prices rose by less than expected in April on lower used car and apparel costs, testing the Federal Reserve’s message that muted inflation will prove transitory.

The U.S. trade deficit with China decreased to the narrowest in almost three years as imports slowed and exports advanced, offering President Donald Trump a chance to claim his tariff war is yielding the desired results just as negotiations reach a critical stage.

The U.S. economy accelerated its rebound from a recent soft patch as unemployment unexpectedly fell to a fresh 49-year low amid strong hiring and cooler-than-projected wage gains, suggesting the hot labor market can extend its run.