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The latest consumer price index report shows inflation rose 2.9% year-over-year in December, marking three months of consecutive increases. Experts are warning of delays in interest rate cuts and possibly even rate hikes. CBS News MoneyWatch correspondent Kelly O'Grady has more.
The Labor Department reported Wednesday that consumer prices rose 2.7% year-over-year in November. The news comes as consumers do their holiday shopping and the Federal Reserve weighs its final rate decision of 2024. CBS News contributor Javier David has more.
New inflation data shows concerning consumer trends and sticky high prices for food and shelter. CBS MoneyWatch correspondent Kelly O'Grady reports.
New data from the Labor Department shows the consumer price index, a key inflation gauge, rose 0.3% in November. That will likely impact the Federal Reserve's final interest rate decision of 2024. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Shoppers buying Thanksgiving groceries are seeing some relief at the register for the first time in years. The price of staples like turkey, pumpkin and green beans are down compared to last year, although cranberries and wine have jumped. Kelly O'Grady reports.
The Labor Department data released Wednesday showed that inflation ticked back up in October, which is what economists were expecting. CBS News MoneyWatch correspondent Kelly O'Grady has more on what it means for consumers.
The consumer price index in October rose 2.6% year-over-year, the Labor Department reported Wednesday, a higher rate than September's 2.4%. The uptick means the Federal Reserve's 2% target rate is further out of reach. Kelly O'Grady reports.
U.S. inflation rose 2.6% on an annual basis in October, matching forecasts from economists, but signaling a bumpy road ahead in the Federal Reserve's battle to tame inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
New data from the Bureau of Labor Statistics shows the producer price index was flat in September. Dow Jones economists had predicted a tenth of a percent increase. CBS News contributor J.D. Durkin has more.
The Consumer Price Index rose 0.2% in August, the same as July, putting the 12-month inflation rate at 2.5%. CBS News contributor Javier David has a look at the numbers and what they might mean for interest rates.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
New data shows inflation continuing to cool in July, but sticking right below 3% as housing costs and rental prices continue to affect monthly budgets. CBS News senior business and technology correspondent Jo Ling Kent reports.
Wednesday's release of the latest Consumer Price Index marks the first time inflation has been below 3% since 2021. CBS News contributor Javier E. David has more on the report and what it could mean for interest rates.
The July Producer Price Index was released Tuesday, showing wholesale prices had a slight increase in July compared to June. CBS News contributor Javier E. David has more on what that means for the economy as well as a preview of Wednesday's release of the Consumer Price Index.
Labor Department data released Thursday showed the annual inflation rate cooled from 3.3% in May to 3% in June. That's lower than the 3.1% rate some economists had projected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for The New York Times, joins CBS News to unpack the report.
Amid the inflamed and antagonistic state of U.S. politics, several companies are hoping a message of unity will strike a chord with consumers. Major Garrett explains.
Several fast food chains are introducing new, cheaper meals following complaints from customers about rising prices. The price of a fast food meal has outpaced inflation, rising about 5% in the last year. CBS Bay Area's Kenny Choi has more.
The Federal Reserve left interest rates unchanged Wednesday after the government announced consumer prices in May rose 3.3% year over year. The central bank has been hesitant to cut rates due to inflation. Ben Casselman, economy reporter for The New York Times, joins CBS News to unpack the data.
Price increases in the U.S. were up 3.3% from last year in May's Consumer Price Index, a smaller increase than was predicted by economists, while month-over-month prices stayed the same. CBS News business analyst Jill Schlesinger has more.
Memorial Day marks the unofficial start of summer, and about half of all Americans are expected to grill over the weekend. But food prices are up this year, making those cookouts a bit more expensive. Jonathan Vigliotti reports.
Inflation declined slightly in April after two straight months of increases, the U.S. Bureau of Labor Statistics announced Wednesday. Jeanna Smialek, Federal Reserve and economy reporter for The New York Times, joins CBS News to unpack the numbers.
While Americans are saving a little money at the grocery store, dining out is another story. Jo Ling Kent reports on the high cost of fast food.
U.S. inflation cooled slightly in April, but President Biden says prices are still too high. CBS News executive director of elections and surveys Anthony Salvanto explains how voters feel about rising prices' impact.
New Consumer Price Index data indicates inflation slightly slowed in April, but certain costs of living, like gas prices and shelter, are still increasing. CBS News senior business and technology correspondent Jo Ling Kent reports.
President Trump and Russian President Vladimir Putin are planning to meet in Alaska on Friday, August 15.
The Georgia Bureau of Investigation on Saturday identified the gunman as 30-year-old Patrick Joseph White, of Kennesaw, Georgia.
The meeting comes as there is growing international condemnation of Israel's decision for a military takeover of Gaza City, while little appears to have changed immediately on the ground.
Three people were hurt in a shooting in Times Square overnight Friday, New York City police say.
President Trump has nominated Mike Waltz, his former national security adviser, to be U.S. ambassador to the United Nations.
Jen Pawol has made history as the first female umpire to work a regular-season game in the major leagues.
A mysterious fireball blazed across the sky in broad daylight on June 26, sparking hundreds of siting reports in Georgia and South Carolina.
The splashdown off San Diego closed out a 148-day mission for two NASA astronauts, a Japanese flier and a Russian cosmonaut.
British Parliament in early July passed a law banning Palestine Action and making it a crime to publicly support the organization.