Inflation, as measured by the producer price index, fell half a percentage point to 2.7% for the year ending in March, the Bureau of Labor Statistics reported Friday, adding to the recent encouraging indications that price pressures are abating.

The consumer price index fell a seasonally adjusted 0.1% in March, putting the 12-month inflation rate at 2.4%, down from 2.8% in February.

Inflation cooled in March, but economists expect prices to reaccelerate as some of President Trump's tariffs kick in.