The Consumer Price Index rose 2.4% in January from a year earlier, coming in below forecasts and signaling some cooling in price pressures.
The CPI was expected to rise 2.5% on an annual basis last month, according to economists polled by financial data firm FactSet.
The CPI tracks the changes in a basket of goods and services typically bought by consumers, such as food and apparel.
The January inflation reading was delayed due to the partial government shutdown that ended earlier this month.
—This is breaking news and will be updated.
