Inflation in the US cooled last month, as prices for energy and used cars dropped. The consumer price index rose 2.4% over the 12 months to January, the Labor Department said. That was down from 2.7% in the prior month and marked the slowest pace since May.

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

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

Stocks were mixed at the close of a rough week after a crucial inflation report showed prices rose less than expected last month.

Will the decline in inflation help lower mortgage interest rates? Here's what borrowers need to consider right now.

Follow MarketWatch's live coverage of the consumer-price index for January and its implications for the economy and markets.

Gold rebounded on Friday as investors digested U.S. inflation figures for guidance on interest rate direction after jobs data lowered rate cut expectations.

A series of consumer-facing companies announced their quarterly results this week, giving executives from these titans a chance to give their perspectives about consumers, the economy, inflation and ongoing concerns about affordability.

Gold and silver prices were edging higher early Friday after a reading on consumer inflation came in more tame than expected. Gold was up 1.3%, to about $5,014 an ounce, while silver was 4.3% higher,