US Inflation Falls to 2.4% as Tariff Effects Ease

US inflation fell to 2.4% in January after last year’s tariff-driven price swings. The consumer price index rose 0.2% from December, while core inflation increased 0.3%. Economists had expected a slight decline to 2.5%. Prices dropped to 2.3% last April, then climbed to 3% by September before easing again. The White House credited Trump’s policies and denied lasting tariff spikes. The Federal Reserve paused rate cuts in January and will decide again in March. Chair Jerome Powell said tariffs may cause a temporary rise before prices stabilize. The labor market remained steady, though job growth slowed compared with 2024. Recent polls show declining approval of Trump’s economic leadership, especially on inflation. The administration has proposed measures to lower housing, credit card, and drug costs.