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The consumer price index eased in January but inflation was still elevated for many consumer necessities, economists said.

While the reading was cooler than expected, consumers still saw higher costs for computers, ​appliances​ and hospital care.

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Inflation eased more than expected to 2.4 percent pace last month.

A decline in the rate of price increases is good news for Americans who have grappled for years with rising costs of living.

The slightly lower number for January reflects smaller price increases for shelter and food, as well as a decrease in energy costs.

The inflation reading, the lowest since May 2025, shows grocery, gas and rent prices are cooling.

A Friday the 13th economic report appeared to deliver some fortunate news: Annual inflation slowed significantly.