Consumer prices rose 2.4% annually in January, less than expected🚨

[ https://www.cnbc.com/amp/2026/02/13/cpi-inflation-report-january-2026.html ](https://www.cnbc.com/amp/2026/02/13/cpi-inflation-report-january-2026.html) The cost of goods and services rose at a slower annual rate than expected in January, providing hope that the nagging U.S. inflation problem could be starting to ease. The consumer price index for January accelerated 2.4% from the same time a year ago, down 0.3 percentage point from the prior month, the Bureau of Labor Statistics reported Friday. That pulled the inflation rate down to where it was the month after President Donald Trump in April 2025 announced aggressive tariffs on U.S. imports. Excluding food and energy, the core CPI was up 2.5%. Economists surveyed by Dow Jones had been looking for an annual rate of 2.5% for both readings. On a monthly basis, the all-items index was up a seasonally adjusted 0.2% while core gained 0.3%. The forecast had been 0.3% for both. Though the category accounted for much of the CPI gain, shelter costs rose just 0.2% for the month, bringing the annual increase down to 3%. Shelter makes up more than one-third of the CPI. Elsewhere, food prices increased 0.2% as five of the six major grocery group categories posted gains. Energy fell 1.5% while vehicle prices also were muted, with new vehicles up just 0.1% and used cars and trucks falling 1.8%. Economists had expected Trump's tariffs to spark inflation, but the impact has been largely tilted toward select goods rather than a broader impact. "The tariffs have had a clear impact on products such as furniture and appliances, but the key items in many family budgets are cooling off," Long added.