CPI at 2.4% in Jan 2026: Below Forecast, Signals Cooling

The U.S. Consumer Price Index rose 2.4% year-over-year in January 2026, below the 2.5% median forecast and the slowest pace since May 2025, according to the Bureau of Labor Statistics. Food and shelter prices increased, but energy prices fell 1.5% in January, partially offsetting gains. Core inflation, excluding volatile food and energy, rose 2.5% in January. The CPI measures a basket of goods and services typically purchased by consumers. The January reading was delayed following the partial government shutdown earlier in the month.