Lower than expected again! The year-on-year increase in the US CPI in April was 2.3%. Are tariffs not effective but underlying currents are surging?

According to the Wise Financial APP, due to the stable prices of clothing and new cars, the US CPI in April rose less than expected, indicating that there is not a high urgency for businesses to pass on higher tariff costs to consumers. Data released by the Bureau of Labor Statistics on Tuesday shows that excluding the volatile categories of food and energy, the core Consumer Price Index (CPI) rose by 0.2% in April from March, a year-on-year increase of 2.8%, consistent with expectations and unchanged from the previous month, marking the lowest level since February 2021. Overall, CPI rose by 0.2% from the previous month, with a year-on-year increase of 2.3%, below expectations for the third consecutive month.