US inflation falls to 2.4% in January, moderating against forecasts
US CPI moderated in January to 2.4% year-on-year Photo: iStock
TL;DR
- US CPI moderated to 2.4% year-on-year in January, down from 2.7% in December.
- Core inflation, excluding energy and food, decreased to 2.5% from 2.6%.
- The January CPI was slightly below market predictions of 2.5%.
- Energy prices fell 1.5% in January, primarily due to a 3.2% decrease in gasoline prices.
- Housing remained the main driver of monthly inflation, though its growth slowed.
- President Trump expressed satisfaction with the inflation numbers, attributing the moderation to his administration's policies.