U.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now. But the progress may not last as President Trump intensifies his trade wars. The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — was unchanged from January after rising 0.

Inflation slowed more than expected in February and cooled for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.

U.S. consumer prices increased moderately in February as higher shelter costs were partially offset by cheaper airline fares, giving the Federal Reserve room to keep interest rates unchanged next week while monitoring the economic impact of a trade war.