Economists predicted a slight easing of inflation, although it’s unclear whether Fed will again cut interest rates
US inflation moderated in January to 2.4%, an easing after Donald Trump’s tariffs triggered price fluctuations last year.
Prices rose 0.2% from December to January, according to data released by the US Bureau of Labor Statistics on Friday measuring the consumer price index (CPI), which measures the price of a basket of goods and services. Core CPI, which strips out the volatile food and energy industries, went up 0.3% over the month.
Economists anticipated prices would ease slightly, pushing the annual inflation rate down to 2.5%. The news comes as polls show voters souring on Trump’s economic record.
Last year, prices fluctuated wildly from spring to fall, going down to 2.3% in April, the lowest in more than four years, then slowly climbing up to 3% by September. By November and December, inflation had fallen to 2.7%.
