Whether or not there’s actually a deal to end this government shutdown, the government data drought continues this week, which means we’re probably going to miss a couple of key inflation reports that are due in the coming days: The consumer and producer price indexes.

Despite that data blackout, we will hear from a number of Federal Reserve officials this week. One of them, San Francisco Fed president Mary Daly, wrote a blog post Monday morning arguing that, despite the Trump administration’s tariffs, inflation expectations are still “relatively well-anchored” around the Fed’s 2% goal.

In other words, inflation could continue to come down. Earlier in the year, it seemed like a safe bet that the president’s tariffs would cause inflation to pick up.

“You know, somebody has to absorb the cost,” said Jennifer Lee, senior economist with BMO Capital Markets.

There are plenty of categories where tariffs have led to higher prices. For instance, imported goods, including apparel and furniture.

But Lee said recent trade agreements could prevent inflation from getting worse, including the one-year truce with China.

“Assuming that it does stick, I think that’s very good news for the consumer,” she said.

Plus, imported goods just aren’t what people spend most of their money on.

Sarah House, senior economist at Wells Fargo, said consumers spend the bulk of their money on services. And that kind of inflation has been cooling off.

“Things like travel-related prices, medical care also, slowly but surely coming down. And also a lot of the discretionary services. So things like recreation, going out to sports games, or the movies,” she said.

House said that’s because the price of those services is affected less by tariffs and more by the labor market.

“That was a big source of cost pressures for companies, but now we’ve seen the jobs market cool off pretty noticeably, and so I think some of those wage pressures have subsided,” she said.

House said that reduces pressure on companies to raise prices and limits what companies think they can get away with charging.

“Because consumers — those that are earning those wages — they’re going to be probably a little bit more reluctant to accept some of those higher prices, if they don’t feel like their pay is increasing more,” she said.

That hesitancy to pay higher prices could also keep housing inflation down.

Michael Pearce, deputy chief U.S. economist with Oxford Economics, said people already are having a difficult time affording rent.

“That’s causing people to stay living with their parents for a little bit longer, or maybe continue to seek out roommates, rather than renting their own apartment, so that’s kept a lid on demand,” he said.

Meanwhile there are a lot of vacant apartments in many parts of the country. Pearce said all of that takes pressure off of rent growth and inflation overall.

“For the consumer price index, it’s about a third of the index. So if that keeps coming down, that’s a big tailwind for lower inflation over the coming months,” he said.

Pearce said he expects inflation will fall closer to the Fed’s 2% target over the coming years.