US inflation fell to 2.4% in January after tariff-driven price swings. The Bureau of Labor Statistics reported a 0.2% monthly increase in consumer prices. Core inflation, excluding food and energy, rose 0.3% for the month. Economists expected a slightly higher annual rate and note growing voter dissatisfaction. Last year, inflation fell in spring, peaked in September, and eased by winter. The White House claims its policies control prices and will support future rate cuts. The Federal Reserve studies inflation and labor data before its March decision. Jerome Powell expects tariff effects to peak soon and then fade. Job growth slowed sharply in 2025 compared with strong gains in 2024. Polls show weak approval on inflation and rising concern before the midterms. Trump now promotes housing, debt, and drug price measures to address affordability.
