Annual inflation rate fell to 2.4 percent
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The consumer price index eased in January but inflation was still elevated for many consumer necessities, economists said.
A decline in the rate of price increases is good news for Americans who have grappled for years with rising costs of living.
A Friday the 13th economic report appeared to deliver some fortunate news: Annual inflation slowed significantly.
Gold rebounded on Friday as investors digested U.S. inflation figures for guidance on interest rate direction after jobs data lowered rate cut expectations.
Inflation slowed in January to its tamest pace since May 2025 after an upbeat jobs report as the economy seemingly skirts the full effects of President Trump’s tariffs for now. The Consumer Price Index rose 2.
Inflation in the United States eased at the start of 2026, providing a reprieve to the Federal Reserve as it contends with yet another year of consumer prices rising faster than the central bank’s target. Here is what the latest Consumer Price Index showed on Friday.
President Trump and top White House officials are ramping up pressure on the Federal Reserve to cut interest rates after two surprisingly strong economic reports. Data released by the Labor Department on Friday showed inflation falling below economist expectations in January,
Chicago Fed president Austan Goolsbee said after January's inflation data that further progress is needed before the Fed cuts rates again.