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.

Excluding volatile food and energy prices, so-called core wholesale prices fell 0.1% last month from January, first drop since July. Core producer prices rose 3.4%, lower than the 3.8% year-over-year gain in January. The numbers were all lower than economists had expected.

Wholesale prices were unchanged in February, offering more evidence that inflation pressures eased somewhat early in the new year.