CPI rose at an annual rate of 2.4% in January, cooler than expected
Summary
The Consumer Price Index (CPI) in the U.S. rose 2.4% in January compared to a year ago, which was lower than expected and shows that inflation growth is slowing. Food and housing prices increased, but lower gas prices helped keep the overall inflation rate down.Key Facts
- The January CPI increase was 2.4%, below the predicted 2.5%.
- This is the slowest inflation rate since May 2025, down from 2.7% in December.
- Food and shelter costs rose faster than the overall inflation rate.
- Gasoline prices fell by 7.5% compared to last year, helping lower inflation.
- Core inflation, which excludes food and energy, rose 2.5%, the lowest since March 2021.
- The Federal Reserve’s preferred inflation measure is still nearly 3%, above the 2% target.
- Many Americans still feel financial pressure despite slowing inflation.
- Experts expect the Federal Reserve to keep interest rates steady for now to avoid too-fast economic growth.
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