$5 gas is here: AAA says nationwide average hits new high
The national average price has jumped 19 cents in just the past week, and it's up $1.93 from this time last year.
Gas Prices
Gas prices reach unprecedented highs
Gas prices in the nation are at a never-before-seen level and doesn’t seem to be slowing down anytime soon. CBS News business analyst Jill Schlesinger joins “CBS Mornings” to help make sense of the latest economic data.
Inflation soars to 40-year high
President Biden addressed the inflation crisis in a briefing at the Port of Los Angeles Friday. CBS News senior White House and political correspondent Ed O'Keefe reports.
U.S. inflation surging at fastest pace in 40 years
Prices are skyrocketing as inflation is surging at its fastest pace in more than 40 years. Rampant inflation is hitting America's pocketbooks, but it's also impacting President Biden, as surveys show Americans see it as the nation's top problem. Ed O'Keefe has the latest.
High inflation hampers summer travel plans
Vacation inflation is hitting summer travelers. Airfare, hotel and rental car costs have skyrocketed compared to recent years. Kris Van Cleave takes a look.
Biden to address rising inflation at summit
After an uptick in the latest Consumer Price Index report, President Biden plans to speak about rising inflation, record gas prices and supply chain disruptions. CBS News senior White House and political correspondent Ed O'Keefe joined Vladimir Duthiers and Anne-Marie Green with more on the administration's plans to help consumers.
Consumer prices continue to rise
The Consumer Price Index jumped 1% in May 2022, representing an 8.6% bump year-over-year. That's the largest 12-month increase in more than four decades. CBS News reporter Sarah Ewall-Wice joined Anne-Marie Green and Vladimir Duthiers to discuss how inflation and higher prices are impacting Americans.
Stocks plunge as inflation soars at fastest pace in 4 decades
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Biden to speak on the state of the economy
President Biden will address the rising levels of inflation in a speech Friday as prices of food, gas and other necessities are reaching record highs. Washington Post White House reporter Sean Sullivan joins CBS News with a preview the administrations plans.
Reps. Jim Himes and Bryan Steil on high energy prices - "The Takeout"
On "The Takeout" podcast this week, Himes and Steil also discuss gun control and immigration with host Major Garrett.
Soaring gas prices impact American drivers
The price of gas hit another all-time high as the national average nears $5 a gallon. Carter Evans has more on how it's affecting small business owners.
How government is affecting the energy crisis
CBS News' Tanya Rivero and Nikki Battiste sit down with Jason Bordoff, the co-founding dean of Columbia University's Climate School and the founding director of its Center on Global Energy Policy, about soaring fuel prices, government's changing role in the energy sector and what actions should be taken to combat the global energy crisis.
Stocks slide as investors fret about inflation
Dow dives more than 600 points as central bankers struggle to contain spiraling food, energy and other prices.
Mortgage rates jump again, sending buyers to the sideline
Interest on a standard 30-year home loan is 5.23%, up from less than 3% a year ago, according to Freddie Mac.
6/8: Red and Blue
Gas prices reach record high average per gallon; Biden to attend G7 & NATO meetings on Ukraine
U.S. average gas price hits record high of $4.96
U.S. Secretary of Energy Jennifer Granholm joins "Red and Blue" to discuss the Biden administration's efforts to address record-high gas prices.
Stocks fall as trading wobbles along with investor confidence
Trading remains choppy as investors try to determine how rising interest rates and inflation will impact economy.
Gas prices continue to soar across U.S.
The national average for a gallon of gas in the U.S. is inching closer to $5. Analysts are unsure if or when prices could go down. CBS News correspondent Carter Evans joins "CBS News Mornings" with the latest from California, which has the most expensive gas in the nation.
Gas prices now top $5 a gallon in these 16 U.S. states
Gas costs have jumped 28 cents per gallon in the last week. Nationally, prices could soon exceed $5, one expert says.
Smaller boxes in cereal aisle? Say hello to shrinkflation.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
Second jobs, electric vehicles: How drivers are dealing with high gas prices
The current national average is $4.62 a gallon, according to AAA.
OECD: War in Ukraine will drag down global economy
"The war could spark starvation. It could cause social unrest and political turmoil," OECD chief economist said.
Gas prices break record
Gas prices continue to soar across the nation. In more than a dozen states, the typical gas price has topped $5 a gallon. Experts predict the worst has yet to come for customers. Carter Evans is in Los Angeles where gas prices are some of the highest in the nation.
U.S. gas prices hit record-high
Americans are paying record-high prices for gasoline as the summer travel season kicks off. CBS News correspondent Carter Evans has more on the rising gas prices. Then, John Leer, the chief economist for Morning Consult, joins Lana Zak on CBS News to discuss the U.S. economy and more.
U.S. gas prices hit record high
While major financial markets ended the day in positive territory, the average price of gas in the U.S. hit a record high of $4.97 per gallon. CBS News' Elaine Quijano and Tanya Rivero discuss the latest developments with Tom Kloza, global head of energy analysis for the Oil Price Information Service.
live updates
Government shutdown begins as White House moves to cut billions in funding
The first government shutdown in nearly seven years is underway as Republicans and Democrats remain at an impasse over 2025 funding. Follow live updates here.
The facts behind the shutdown debate over health care and immigrants in U.S. illegally
One of the main lines of attack leveled by Republicans amid the government shutdown is that Democratic lawmakers want to give immigrants in the U.S. illegally free healthcare — which Democrats deny.
These hospitals face major flood risk. Experts say Trump is making it worse.
Hospitals across the U.S. are at risk of significant flooding, and climate experts warn that the Trump administration's cuts leave the nation less prepared.
Jane Goodall, renowned conservationist, dies at 91
British conservationist Jane Goodall spent her life researching and educating others about chimpanzees and the natural world.
Investors are unfazed about the government shutdown. Here's why.
Data shows government shutdowns tend to have a modest impact on financial markets and the broader U.S. economy.
Trump press secretary Karoline Leavitt retakes prime West Wing office space
White House press secretary Karoline Leavitt is reclaiming the press secretary's traditional West Wing office — a roomy space with a fireplace.
U.N. Ambassador Mike Waltz isn't part of Trump's Cabinet, sources say
President Trump has decided the position will not be a Cabinet-level post, according to several sources familiar with the matter.
NYC high-rise partially collapses after explosion
Emergency crews are responding to reports of a possible gas explosion and partial building collapse in the Mott Haven section of the Bronx.
Legal threats hang over governor's race after report on Sherrill's military records
The National Archives admitted it had erred in releasing a mostly unredacted version of Mikie Sherrill's military records to an ally of her opponent.