Inflation ticked down in January, with prices rising 2.4% from a year earlier, the Labor Department said Feb. 13.

The report, which was delayed two days due to a brief government shutdown, revealed inflation fell in the first month of 2026 after holding steady at 2.7% in December. The slightly lower number for January reflects smaller price increases for shelter and food, as well as a decrease in the index for energy, which fell 1.5%.

Prices are still rising, but inflation remains well below the pace seen in 2022, and far from the rate consumers and businesses expected after President Donald Trump imposed broad tariffs on nearly all U.S. trading partners last year. Still, in a New York Times and Siena University poll released Jan. 22, Americans ranked the economy as their top concern, and 51% said the president’s policies have made their lives less affordable.

On a monthly basis, prices increased 0.2%, down from 0.3% in December. Prices for airline fares, personal care, recreation, and medical care increased over the month. Meanwhile, the cost of used cars and trucks, household furnishings and operations, and motor vehicle insurance declined.

More: US economy added 130,000 jobs in January, unemployment falls to 4.3%

Core inflation, which excludes volatile food and energy prices, fell to 2.5% over the last 12 months, down from 2.6% the month before.

This is a developing story and will be updated to add new information.

Reach Rachel Barber at rbarber@usatoday.com and follow her on X @rachelbarber_

This article originally appeared on USA TODAY: US inflation eased to 2.4 percent in January, CPI shows