The Labor Department on Friday released the January 2026 consumer price index (CPI), which showed that inflation remained elevated above the Federal Reserve's target.

Friday's report suggests inflation could be cooling, but it comes after the cost of food, gas, and apartment rents have soared since the pandemic.

Friday's report from the Department of Labor revealed that headline, annual inflation reached its lowest level since May.

President Donald Trump finally received the good news he’s been hoping for on the economy. For months, Trump has claimed that he has fixed inflation despite Americans reporting in polls that the cost of living is still too high. But on Friday, a new economic report showed that a key measure of inflation slipped to nearly a five-year low.

Solid jobs data and a soft inflation reading for January are welcome news for President Trump. But the bigger economic picture is less encouraging.

Inflation eased to 2.4% in January, the lowest in 8 months, raising speculation the Fed may revisit its steady interest rate stance in March.

Will the decline in inflation help lower mortgage interest rates? Here's what borrowers need to consider right now.

The January CPI report showed cooling inflation, a key factor in whether the Federal Reserve resumes interest rate cuts. Follow along with our live coverage here.

While the jobs report will likely draw the economic headlines, especially since the Federal Reserve has said it is concerned about the labor market, there will also be a crucial update on the inflation picture on Friday with the release of January’s consumer price index.