Bureau of Labor Statistics: U.S. Inflation Cools to 2.4% in January, 2.5% Core; Lowest Core Rate Since March 2021

The U.S. annual inflation rate cooled to 2.4% in January, the lowest level in eight months, according to the Bureau of Labor Statistics. The monthly increase was 0.2%, down from 0.3% in December. The core CPI annual rate also eased to 2.5%, its lowest since March 2021, reflecting the base effects from higher inflation in the prior year.