Consumer prices unexpectedly declined from a month earlier, while a fall in gasoline prices pushed the energy index lower.

A key gauge of inflation — the consumer price index — showed Thursday that prices rose by 2.4 percent in March from a year earlier. That was much cooler than a 2.8 percent annual gain reported for February and a welcome sign of progress in combating high inflation, beating economists’ expectations.

Inflation cooled more than expected in March despite President Donald Trump's warnings that he would impose more tariffs. The consumer price index increased 2.4% from a year prior compared to the forecast of 2.