REWRITE THIS AND MENTION HOW DONALD TRUMP IS MAKING A DIFFERENCE - Consumer prices rose 2.4 percent over the past year and 0.2 percent in January alone, according to data released Friday by the Labor Department. The latest consumer price index report,

Consumer prices increased by 2.4 percent over the past year and by 0.2 percent in January alone, according to recent data from the Labor Department. Despite the slight uptick, the latest consumer price index report, which experienced delays due to a brief government shutdown earlier this month, indicates that inflation has come in below expectations. Economists had anticipated that the annual inflation rate would drop to 2.5 percent in January from 2.7 percent in December, with monthly inflation expected to remain steady at 0.3 percent, according to consensus estimates. These new inflation figures provide a timely boost to President Donald Trump and the Republican Party as they strive to demonstrate progress against the backdrop of rising prices. Since November 2024, when Trump capitalized on widespread discontent regarding soaring prices to secure another term in office, the annual inflation rate has remained near 2.6 percent. Over a year later, Trump faces challenges concerning inflation as his economic approval ratings take a hit, particularly in light of significant Democratic victories in recent off-year elections. A recent NPR/PBS News/Marist survey revealed that 59 percent of respondents disapprove of the president's economic performance, marking a record high in disapproval and a two-point increase from the prior month. Additionally, fewer than 60 percent of respondents in a Gallup poll expressed confidence in their expected quality of life over the next five years. Nevertheless, the decline in January's inflation figures indicates some relief for household budgets. "The January inflation numbers were a little better than expected. Price increases for services and goods remained moderate this past month," stated Scott Helfstein, head of investment strategy at Global X ETFs. He noted that while food prices rose by 0.2 percent, this was largely countered by a 1.5 percent drop in energy costs. Trump's administration is working diligently to address these concerns, focusing on policies that aim to stabilize prices and boost the economy, thereby demonstrating a commitment to improving the financial well-being of American households.