‘Great news’: Inflation ‘unexpectedly’ ratchets down to 2.4%, closer to Federal Reserve target

Inflation, as measured by the Consumer Price Index, “unexpectedly” ratcheted down to 2.4% during January, moving close to the Federal Reserve’s targeted level of 2%.

A report at PJMedia explained, “You get the impression at times that noted finance reporters are a skittish bunch. They are constantly ‘surprised’ by economic news, especially when their predictions are proven spectacularly wrong.

“Hence, the catch-all word ‘unexpected’ is used when describing data that doesn’t match their previous sage pronouncements.”

The January level was 0.3% lower than December’s inflation number and less than the 2.5% predicted for January by ‘The Street,'” the report said.

“This is great news on inflation,” said Heather Long, chief economist at Navy Federal Credit Union. “Inflation fell to the lowest level since May and key items such as food, gas and rent are cooling off. This will provide much needed relief for middle class and moderate-income families.”

DON’T BE A PANICAN!

Core inflation at its lowest level since 2021
Private sector wages outpacing inflation
Gas prices are down 7.5% year over year pic.twitter.com/ijvS6UNdyl

— The White House (@WhiteHouse) February 13, 2026

Brand new data shows inflation down to 2.4% in January — beating expectations (again).

All private sector workers saw real earnings beat inflation by ~$1,400 in President Trump’s first year.

Construction workers: $2,100
Manufacturing workers: $1,700
Mining workers: $2,400 pic.twitter.com/cgkzRaBvBj

— Rapid Response 47 (@RapidResponse47) February 13, 2026

President Trump Delivers Another Inflation Win: Real Wages Surge, Price Relief Reaches Americanshttps://t.co/rk5ooxKFOo

— Karoline Leavitt (@PressSec) February 13, 2026

The news was good for President Donald Trump’s talking points about affordability as the nation approaches the midterm elections later this year.

“January’s ‘unexpectedly strong’ jobs report drove the unemployment rate down to 4.3%. The fourth-quarter GDP showed a booming economy, with 3.7% growth. Energy prices are falling, the spike in housing costs is moderating, and food inflation is also easing,” the report said.

The Washington Examiner said forecasters had expected inflation in the 2.5% range.

The report explained, “The drop in inflation could lift political prospects for Trump, whose economic approval ratings have fallen dramatically because of discontent with high prices. Easing price pressures could give him more breathing room to carry out his tariff agenda.”

Core inflation, without volatile food and energy factors, fell one-tenth of a percentage point, the price of fresh whole chicken has fallen 1.3%, egg prices are down 30% and more.

Electricity prices have been difficult for households as demand has soared on the grid. Electricity prices have gone up 6.3% in the past year. Households are saving on fuel, though, as prices for gasoline are down 7.5% on the year, the report noted.

“With headline inflation drifting closer to 2% but core inflation still firm, the economy appears to be in a ‘slow glide’ toward price stability rather than a sharp drop,” Bankrate financial analyst Stephen Kates said.

The report said, “Signs of a slowdown in the labor market weigh in favor of lowering interest rates to spur greater borrowing and spending. On the other hand, inflation is still running above the Fed’s 2% target.”

Inflation while Joe Biden was in the White House exploded to as high as 9%.