Both prices and inflation fell to new lows under President Trump for the month of March, according to CNBC, who reported that these drops were lower than expected.

Here’s the news:

Consumer price inflation eased more than expected in March as President Donald Trump prepared to launch tariffs against U.S. trading partners, the Bureau of Labor Statistics reported Thursday.

The consumer price index, a broad measure of goods and services costs across the U.S. economy, fell a seasonally adjusted 0.1% in March, putting the 12-month inflation rate at 2.4%, down from 2.8% in February.

Excluding food and energy, so-called core inflation ran at a 2.8% annual rate, having increased 0.1% for the month. That was the lowest rate for core inflation since March 2021.

Wall Street had been looking for headline inflation of 2.6% and core at 3%, according to the Dow Jones consensus.

 
CNBC’s Rick Santelli reacted to the news, saying “these are definitely low numbers”: