The Fed will likely announce that it’s skipping a rate hike but may resume raising rates as soon as July.

Consumer prices were up just 5% in March, down sharply from February’s 6% year-over-year increase and the mildest such rise in nearly 2 years.

With the recent collapse of Signature and Silicon Valley banks, the agency may have to shift its focus from taming inflation to boosting confidence in financial institutions.

High costs keep pressure on the Federal Reserve to raise its benchmark interest rate further and to keep it there through year’s end.

Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool.

The figures came in lower than economists expected and make it more likely that the Federal Reserve will increase its benchmark interest rate in smaller increments.