President Trump emphasizes affordability in second-year agenda
President Donald Trump’s second-year agenda has shifted focus from his MAGA wish list to tackling the cost of living.
Inflation slowed in January, with prices rising 2.4% year-on-year, the Labor Department announced on February 13.
The report, which was delayed by two days due to a brief government shutdown, found that inflation fell in the first month of 2026 after remaining flat at 2.7% in December. The slight decline in January’s numbers reflected modest increases in housing and food prices, as well as a 1.5% decline in the energy index.
Prices are still rising, but inflation remains well below the 2022 pace and far from the levels consumers and businesses expected after President Donald Trump imposed sweeping tariffs on nearly all of the United States’ trading partners last year. Still, a New York Times/Siena College poll released on January 22 found that Americans ranked the economy as their top concern, with 51% saying the president’s policies have made their lives harder.
On a month-on-month basis, prices rose 0.2%, slowing from December’s 0.3% rise. Prices for airfare, personal care, recreation, and medical care increased month on month. Meanwhile, prices for used cars and trucks, household equipment and operating expenses, and auto insurance fell.
What is the core inflation rate in the United States?
Core inflation, which excludes volatile food and energy prices, fell to 2.5% over the past 12 months, down from 2.6% in the previous month.
This is a developing story and will be updated to add new information.
Contact Rachel Barber at rbarber@usatoday.com and follow her at X @rachelbarber_
