Inflation in the United States cooled in January, according to the Department of Labor, with the consumer price index rising by 2.4% over the 12 months, the slowest pace since May. This news comes as the US government ended Temporary Protected Status (TPS) for over 1,000 Yemeni refugees and asylum seekers, ordering them to leave the country within 60 days. Meanwhile, former Canadian Prime Minister Mark Carney paid tribute to school shooting victims in Tumbler Ridge, and President Donald Trump stated that regime change in Iran "would be the best thing that could happen."
The easing of inflation, reported by BBC Business, was attributed to falling prices for energy and used cars. This retreat could add fuel to arguments by US President Donald Trump and others that the central bank was in a position to cut interest rates without stoking a new flare-up in prices. However, some analysts warned that further progress toward the Federal Reserve's 2% target could stall if companies start to pass on the costs of tariffs more fully to consumers or if labor shortages push up prices.
The US government's decision to end TPS for Yemeni refugees, as reported by Al Jazeera, was part of a broader immigration crackdown. The action, which occurred on Friday, would force the refugees and asylum seekers to leave or face arrest and deportation.
In other news, former Canadian Prime Minister Mark Carney joined hands with the Canada opposition leader as he paid tribute to school shooting victims in Tumbler Ridge, according to The Guardian. Carney told residents that the country would always be with them.
President Trump, speaking to reporters at Fort Bragg in North Carolina, also commented on the situation in Iran. According to Sky News, he justified the US's decision to deploy another aircraft carrier, the USS Gerald R. Ford, to the Middle East, declaring "we'll need it" if a deal isn't struck with Iran. He added that regime change in Iran "would be the best thing that could happen."
Finally, Al Jazeera also reported that while chocolate prices have eased from last year's peak, cheap chocolate has not made a comeback. The cocoa price crisis, driven by extreme heat, drought, and disease in key producing regions, may have eased, but the market has been fundamentally changed.
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