CPI rose at 3.4% pace in August, raising odds of Fed rate hike this month
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
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The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.
Wisconsin is famous for its Friday fish fry, and regulars are fiercely loyal to their preferred local restaurants. But inflation-driven food cost increases are impacting this beloved tradition.
Wisconsin is famous for its Friday fish fry, and regulars are fiercely loyal to their preferred local restaurants. But inflation-driven food cost increases are impacting this beloved tradition.
The typical American's paycheck has grown faster since 2019 than in any stretch since the early 1980s. But prices climbed nearly as fast, swallowing about 80% of the wage increase.
Here's what employees can expect for a raise in 2027 as companies move away from broad-based pay increases.
Thirty percent of respondents said they shoplifted this year, with most citing affordability concerns and financial hardship.
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
Lower gasoline prices slowed inflation in June, though many household costs remained stubbornly high.
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
President Trump is threatening a third straight day of U.S. strikes in Iran.
The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
Inflation across the U.S. accelerated in May as the shock to global energy supplies from the Iran war continued to push prices higher. The Consumer Price Index rose at an annual rate of 4.2%, up from 3.8% in the prior month and marking the highest level since April 2023.
Economists expect the Consumer Price Index this week to show U.S. inflation continuing to rise due to higher energy costs.
Consumers have kept the economy chugging along despite financial pressures. But some signs suggest they could be losing steam, experts say.
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
The Personal Consumption Expenditures Price Index rose 0.4% in April to reach 3.8%, the highest rate in almost three years.
U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
Economists say Americans should expect elevated prices at the pump and rising grocery costs in the months to come.
The chain's North American operator forecast it will open 205 stores in 2026, although those openings will be outpaced by a series of closures.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Economic forecasts show that this week's March Consumer Price Index could show prices climbing at their fastest pace in nearly two years.
Goolsbee, president of the Federal Reserve Bank of Chicago, said mounting inflation risks "complicates the picture" on interest rates.
Economists say the conflict in Iran is making a recession more likely, with higher energy prices hitting consumers and businesses.
Mortgage rates, though still well below their level a year ago, have edged up since the Iran war erupted. Here's why.
Chicago has won three of four and moved one-half game ahead of idle Philadelphia for the top NL wild card.
Dozens of residents filled the auditorium of Trinity High School, many encouraging the village board to vote "no" on the O'Hare Flyer.
The deal would drop weapon enhancements from Grafton's charges, which could reduce a potential sentence by 20 years.
The White Sox, who lost 102 games and finished last in 2025, won the opener of the showdown series to push their lead over the Guardians to 1 1/2 games.
The owners of a bar in southwest suburban Frankfort say they were hit by burglars again, and they left behind a huge mess.
The case stems from a Cronobacter bacterial contamination at one of Abbott Laboratories' Michigan plants.
Roger Simon, a celebrated political columnist who worked for the Chicago Sun-Times and Tribune, Politico, and other news organizations, died last week.
This week on The Angle, CBS Chicago's Chris Tye sat down with Secretary of State Alexi Giannoulias to dive deeper into his campaign to become Chicago's next mayor.
Chicago Mayor Brandon Johnson addressed his supporters at the DuSable Black History Museum and Education Center Sunday afternoon, officially announcing his bid for a second term.
The congressman thanked the pilot and first responders for coming to their aid, and expressed his gratitude at only having sustained minor injuries.
Nicor customers will get a break on their bills this fall after Illinois Attorney General Kwame Roul reached an agreement with the utility to cut $140 million from its requested rate hike.
Drivers in Chicago and beyond were paying the highest gas prices ever recorded for the Labor Day holiday as millions of Americans were making their way home on Monday.
Around 115 million domestic and international tourists visited Illinois last year, pushing visitor spending past $50 billion for the first time and generating more than $88 billion in total economic impact.
Illinois Attorney General Kwame Raoul filed a lawsuit Thursday against ABC Plumbing, Heating, Cooling & Electric Inc., alleging deceptive business practices.
Cook County homeowners are again facing a sharper increase in property taxes this year than businesses, the Office of Cook County Treasurer Maria Pappas announced Monday.
Cardinal Blase Cupich and a group of Catholic nuns have joined a federal lawsuit challenging Illinois' Medical Aid in Dying law, which is set to take effect in just over a week.
Flies have been everywhere this summer in the Chicago area, and some of them bite. But why is this happening?
Prime Healthcare is drawing criticism after announcing it will stop obstetrics services at three Chicago-area hospitals.
The Chicago Department of Public Health on Tuesday announced two human cases and one death from the West Nile virus in the city this year, and one of those two people has died.
The Jackson Chance Foundation supports the lives of families with babies in the NICU by removing the financial burden of finding parking near hospitals.
Plans for a new Chicago White Sox stadium in the South Loop have residents near the existing ballpark in Bridgeport concerned, not just because the team might be leaving, but also what might be coming nearby.
A new report from the University of Illinois Chicago said federal immigration enforcement led to $1.26 billion in unspent money at retail establishments and restaurants in Cook County.
Around 115 million domestic and international tourists visited Illinois last year, pushing visitor spending past $50 billion for the first time and generating more than $88 billion in total economic impact.
A new Whole Foods Market is coming to Chicago's Old Town neighborhood.
More than 100 Black-owned businesses were showcased at Soldier Field Sunday for Black on the Block.
Dubbed the "Designer to the Stars," Bob Mackie won nine Emmy Awards, a Tony Award and was nominated for three Oscars.
The stage was set and the air was humid as rapper Ye, formerly known as Kanye West, took the stage for the first of two Chicago concerts at Soldier Field Thursday night.
James Fulton Engstrom, now a healthy teenager, was born without a pulse in 2010 — and his survival is the miracle the Catholic Church credited to Fulton Sheen's intercession, clearing the way for beatification.
The Met's decision to highlight the work by designer John Galliano sparked widespread controversy due to his history of antisemitic and racist comments.
The Edgewater Music Festival was under way this weekend on Chicago's north lakefront.
Hundreds of people showed up at Angel’s Stadium in Orange County over the weekend. They traded in their electric bikes and motorcycles in exchange for gift cards worth up to $1,000.
Experts say it’s important to incorporate meaningful social interaction into your day, regardless of where you work.
The birthday wish included bells tolling to the tune of "Happy Birthday." Pope Leo spent his 71st birthday opening a new exhibit at the Vatican library.
The pigs take a dip with you or sunbathe on the shore. Others are sunbathing on the shore with visitors.
Chief meteorologist Albert Ramon is tracking A thunderstorm risk in First Alert Weather.
A school bus window was shot out when a student with disabilities grabbed a gun belonging to the aide and fired, the assistant principal of Minnie Miñoso Elementary said.
The owners of a bar in southwest suburban Frankfort say they were hit by burglars again, and they left behind a huge mess.
Dozens of residents filled the auditorium of Trinity High School, many encouraging the village board to vote "no" on the O'Hare Flyer.
The deal would drop weapon enhancements from Grafton's charges, which could reduce a potential sentence by 20 years.
Three people were taken to the hospital from the scene of a fire in Chicago's Portage Park neighborhood early Monday.
Chicago police crime data show 255 reported crimes in the last two years on the two blocks where the former Hard Rock and Rainforest cafés sit vacant. Neighbors have been calling the city about the alley between them for six years.
A three-year effort by the Cook County Sheriff's Office to help bring down crime on the Magnificent Mile in downtown Chicago appears to be working.
Several lawsuits are challenging Illinois' medical aid in dying law that is set to take effect on Sept. 12, including one in federal court arguing the law discriminates against people with disabilities.
Back in 2023, ISP got a $10 million grant from the Illinois Secretary of State's Illinois Vehicle Hijacking and Motor Vehicle Theft Prevention and Insurance Verification Council.
Two years before dozens of decomposing bodies were found inside the South Chicago Chapel funeral home, police in nearby Evergreen Park found two bodies in the owners' minivan outside their home.
Chicago has won three of four and moved one-half game ahead of idle Philadelphia for the top NL wild card.
The White Sox, who lost 102 games and finished last in 2025, won the opener of the showdown series to push their lead over the Guardians to 1 1/2 games.
Providence Catholic High School in southwest suburban New Lenox has fired football coach Tyler Plantz, despite the team's 4-0 start to the season.
Before the Chicago Bears beat the Carolina Panthers 59-37 in a wild NFL season opener, quarterback Caleb Williams gave some young fans a special gift to help them get ready for the occasion.
The White Sox, who have lost 10 of their last 14 games, begin a three-game series Monday in Cleveland.
A $30,000 reward is being offered for information leading to the arrest and indictment of the person who shot and killed a 911 dispatcher in the Back of the Yards neighborhood last week.
A 15-year-old girl returned to court Monday to face murder charges, after authorities said she was one of a few people responsible for pushing a man out of a moving Chicago Transit Authority Red Line train.
An 85-year-old man from Crown Point, Indiana, was arrested this past weekend on accusations of shooting his wife.
Chicago police this past weekend issued a warning about a man who grabbed a woman at a CTA Blue Line station in Wicker Park.
CPD says six people were standing outside near an alley when two unknown vehicles approached. Multiple armed suspects got out and fired shots at the victims.
