US Inflation Drops Below 3% for First Time in Three Years

The latest CPI data indicates a significant cooling of inflation, marking a potential turning point for the US economy.

The Consumer Price Index (CPI) showed prices rose just 0.2% from December to January, with annual inflation cooling to 2.9%.
Asian stock markets responded positively to the inflation report, with Japan's Nikkei 225 leading gains.
Federal Reserve officials signal caution, suggesting rate cuts may not be imminent despite the inflation slowdown.
Core inflation, excluding volatile food and energy costs, remains above the Fed's target, indicating persistent inflationary pressures.
The report's findings may influence the Federal Reserve's future monetary policy decisions, with potential rate cuts later in the year.