President Donald Trump, in an interview with Fox News’ Sean Hannity that aired Tuesday night, acknowledged that inflation is on the rise again – bucking his campaign promise to lower prices immediately upon taking office.

US inflation remains stubborn as tariffs and economic policies drive higher prices, complicating the Federal Reserve's rate decisions and testing Trump's administration.

“Core” C.P.I., which more closely reflects underlying inflation by removing volatile food and energy prices, also showed little improvement. It rose 0.4 percent from December or 3.3 percent on a year-over-year basis, both higher than economists expected. The monthly increase in core prices was the highest since April 2023.

Federal Reserve officials are taking note of what they see as rising inflation risks and the uncertain impact of President Donald Trump's trade, immigration and other policies. On Thursday, several signaled they still feel that cooling U.

Federal Reserve Bank of St. Louis President Alberto Musalem said policy should remain “modestly restrictive” until it’s clear inflation is on track to the central bank’s 2% target, and that he sees increased risks that progress may stall or even reverse.

Inflation in the U.K. rose to a 10-month high in January, an increase that will likely diminish expectations of rapid interest rate reductions from the Bank of England

Consumer prices were 3.0% higher in January than a year earlier, up from 2.5% in December, complicating the picture for the BOE after it said it would cut interest rates gradually.