U.S. Consumer Inflation Falls to Nearly Five-Year Low
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WASHINGTON — Consumer prices rose 2.4% year-over-year in January, down from 2.7% in December, as gas prices and apartment rent growth cooled, official U.S. data show. Core inflation, excluding food and energy, increased 2.5% year-over-year, the smallest gain since March 2021, after rising 2.6% in December. On a monthly basis, overall CPI rose 0.2% and core CPI rose 0.3% in January. The Federal Reserve’s 2% inflation target provides context for policymakers monitoring labor and housing costs. Used-car prices also eased, contributing to lower core inflation. Based on 6 articles reviewed and supporting research.
WASHINGTON — Consumer prices rose 2.4% year-over-year in January, down from 2.7% in December, as gas prices and apartment rent growth cooled, official U.S. data show. Core inflation, excluding food and energy, increased 2.5% year-over-year, the smallest gain since March 2021, after rising 2.6% in December. On a monthly basis, overall CPI rose 0.2% and core CPI rose 0.3% in January. The Federal Reserve’s 2% inflation target provides context for policymakers monitoring labor and housing costs. Used-car prices also eased, contributing to lower core inflation. Based on 6 articles reviewed and supporting research.
More context
Timeline
- 1. Early 2020s: Pandemic disruptions and stimulus contributed to rising consumer prices.
- 2. 2021–2022: Supply constraints and demand recovery pushed CPI higher across multiple categories.
- 3. December: Overall CPI measured 2.7% year-over-year; core CPI 2.6%.
- 4. January: Official report shows overall CPI 2.4% year-over-year and core CPI 2.5%.
- 5. January: Used-car prices fell sharply month-to-month, helping reduce core inflation.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
