U.S. inflation rose 2.6% in October, a month after Fed's first rate cut
The Federal Reserve began cutting its benchmark rate in September amid cooling inflation.
Watch CBS News
The Federal Reserve began cutting its benchmark rate in September amid cooling inflation.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
"It's the economy, stupid," – A four-word strategy that helped Bill Clinton defeat incumbent President George H.W. Bush in 1992. Three decades later, the economy again was a driving factor in a presidential election. CBS News Chicago examined exit poll results and the way rising prices helped President-elect Donald Trump win his second term in office.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The cost of Labor Day staples like meat, beer, and beans, was up anywhere from 3% to 10%, according to the CBS News price tracker.
Those grilling or feeding friends this holiday weekend are likely paying more this year than they did last Labor Day. Prices are up for several summer cookout staples. CBS News Chicago wanted to know how local eateries are coping with higher prices for food.
Those grilling or feeding friends this holiday weekend are likely paying more this year than they did last Labor Day. Prices are up for several summer cookout staples. CBS News Chicago wanted to know how local eateries are coping with higher prices for food.
The deal, available through Subway's app and website for a limited time, is aimed at inflation-weary consumers.
Analysts say home buying and renting costs can lag behind other inflation improvements, but many see good news for homebuyers down the line.
Mars is buying food company Kellanova, giving it access to brands such as Cheez-It and Pop-Tarts.
Certified financial planner Jessica Debold of Goldstone Financial Group joins us with a sobering report on how inflation has affected back-to-school shopping, and what you can do to cut costs.
The latest consumer price data furthers the case for an interest rate cut by the Federal Reserve as soon as September.
This week, Mcdonald's is launching a new $5 meal deal and CBS Correspondent Kenny Choi reports, Americans crave fast food, but with higher prices, more and more simply, they aren't lovin' it.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
Marnie was ticked off by the practices of a local ice cream vendor – with the price of ice cream apparently having risen to more than $11 in U.S. dollars for two treats.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
One Fed official on Thursday said if the economy continues to demonstrate strength, "Why would we cut rates?"
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
Christmas traditions aren't immune to the inflation we've all been feeling this year. PNC Bank did the research and found the items in the classic song "The Twelve Days of Christmas" would cost a little more than $46,000.
It may seem hard to believe, but after the holidays, the presidential campaign season will really heat up -- and CBS News just out with a new poll on how people are feeling about the economy. CBS News pollster Anthony Salvanto joins us to explain the results.
The Farm Bureau says the cost of a Thanksgiving meal is down 4.5 percent from last year, but man Thanksgiving classics have gotten a lot pricier. CBS News’ Jo Ling Kent reports.
After a powerful tornado hit Streator, Illinois, on Thursday, home after home was leveled, leaving debris as far as the eye can see.
Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery would not harm U.S. consumers or weaken competition, DOJ antitrust enforcers said.
Illinois Gov. JB Pritzker signed a bill Friday that restricts the sale of intoxicating hemp products to the same ages as recreational marijuana.
The Wheeling Police Department is investigating the death of an 8-year-old child Thursday.
Two men have been charged with attempted robbery and a third with firearms trafficking in an incident that led to a shooting by officers in Country Club Hills.
Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery would not harm U.S. consumers or weaken competition, DOJ antitrust enforcers said.
Illinois Gov. JB Pritzker signed a bill Friday that restricts the sale of intoxicating hemp products to the same ages as recreational marijuana.
The Pentagon on Friday released a new group of documents and videos related to UFOs, or UAPs, with 72 more documents, images and recordings.
Multiple floors of the Pentagon were locked down for several hours Thursday morning and hazmat crews were deployed for what authorities had described as a "hazardous materials incident."
The House on Thursday defeated a last-ditch effort to extend a key spy authority until early July.
An Illinois law banning "swipe fees" on taxes and tips — already delayed twice by lawmakers — appears to be on life support after a federal judge that once permitted it issued a permanent injunction against it this week.
A new study from the Cook County Treasurer's office underlines growing concerns about the impact the Illinois megaprojects bill could have on the county's property tax base and overall fiscal health.
As thousands of Chicagoans wrap up road trips over the Memorial Day holiday weekend, gas prices in the city have reached the highest levels seen in four years.
Consumer and environmental advocates said Monday that they found overcharges buried in the most recent rate-hike request by Nicor.
One week away from Memorial Day weekend and the unofficial start of the summer travel season, with gas prices remaining high, negotiations were set to resume Monday at the largest oil refinery in the Midwest.
Dr. Peter Stafford was working with a missionary group in the Congo when he came down with the virus last month.
While 330 Ebola infections are confirmed in central Africa and huge challenges remain, hundreds more suspected cases "have been cleared out," the WHO says.
June is World Infertility Awareness Month, and Northwestern Medicine on Monday shared the story of a woman who is celebrating the birth of her second child after a tumor disrupted her fertility.
The Centennial Park Aquatic Center in the southwest Chicago suburb of Orland Park has been closed to the public after two recent cases of E. coli infection.
Menopause can feel like a major turning point for millions of women, with symptoms like fatigue, weight gain, and brain fog can make women feel like their bodies aren't their own.
Daley's Restaurant, known as Chicago's oldest, has served Chicago's Woodlawn neighborhood for more than 130 years.
Walgreens is set to close in Chicago's Chatham neighborhood on Thursday, and there's growing concern about where families will get their medications.
The owners of Gene & Georgetti steakhouse are suing a concessions operator over their expansion at Midway International Airport.
DraftKings announced Monday that it is closing its sportsbook operation at Wrigley Field after only about two years.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Forty years ago last weekend, crowds turned out for the Chicago Blues Festival — an event studded with a roster of stars for a spectacle that's still talked about today.
Visitors will soon be able to check out the set from CBS' "The Late Show with Stephen Colbert" in Chicago, at the Museum of Broadcast Communications.
"Schmigadoon!" — which was tied for the most nominations, with 12 — won Best Musical, and "Liberation" took home the honor of Best Play at the 2026 Tony Awards.
Anthony Head played librarian and mentor Rupert Giles in "Buffy the Vampire Slayer" and recently appeared in "Ted Lasso."
Chicago Bears quarterback Caleb Williams is on the cover of Madden NFL 27, the first Bear ever to grace the primary cover of the massively popular video game.
Google is suing a China-based cybercrime group, accusing them of using its AI platform, Gemini, to scam Americans.
While incidents started last week, the culminated when neighbors came out to find graffiti on the blank yellow back of the sign that read "NO JUIF" with a Star of David.
After a powerful tornado hit Streator, Illinois, on Thursday, home after home was leveled, leaving debris as far as the eye can see.
If you love pinball, there are plenty of machines to play at The Flip playable pinball museum which is now open in the pedway at Block 37.
A mother of four was killed and a teenager was hurt when someone began shooting into her house overnight, Chicago police and family said.
Residents across Illinois and Northwest Indiana woke up to major damage after a tornado outbreak Thursday evening.
A mother of four was killed and a teenager was hurt when someone began shooting into their house overnight, Chicago police and family said.
Oak Park police said they are investigating an incident of antisemitic vandalism as a hate crime.
After a powerful tornado hit Streator, Illinois, on Thursday, home after home was leveled, leaving debris as far as the eye can see.
Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery would not harm U.S. consumers or weaken competition, DOJ antitrust enforcers said.
The Crisis Alternative Response Evanston, or CARE, team responds to calls that, before July 2024, would have been lumped into police calls.
The system will provide all heating, cooling, and ventilation for the high school's new physical education facilities and contribute to the school system, saving the district nearly $400,000 a year.
The forecast for a summer reopening of West Suburban Medical Center in Oak Park is growing cloudy, as negotiations continue between the owners and landlord, after the safety net hospital abruptly shuttered its doors in March.
The Obama Presidential Center has been built with sustainability literally in its foundation. But its infrastructure for clean energy, environmentalism and climate change resiliency will also help the communities around it on Chicago's South Side.
A driver in Carol Stream says a band of hungry squirrels caused nearly $30,000 in damage to three different luxury vehicles because of plant-based parts they view as a tasty snack.
Quarterback Caleb Williams and the Chicago Bears had one final minicamp practice on Thursday before they split from Halas Hall to enjoy their last taste of freedom ahead of next month's real training camp.
Seiya Suzuki hit his third career grand slam, Alex Bregman added a two-run homer and the Chicago Cubs snapped a three-game skid with a 9-3 win over the Colorado Rockies on Thursday.
The 2026 FIFA World Cup opening ceremony festivities got underway a little over an hour before the first kickoff in Mexico City's Estadio Azteca.
The Cubs have lost 22 of their past 29 games after starting the season 27-12.
White Sox right fielder Braden Montgomery, who doubled and hit a game-ending homer in his big league debut Tuesday, had two more doubles Wednesday.
It's the second time this year that authorities detained a stowaway holding a huge stash of drugs in the same harbor.
Police in the northwest Chicago suburb of Arlington Heights have released a sketch of a man accused of attacking and choking a woman this past weekend.
A fourth man has been charged in connection with a string of burglaries targeting video gambling terminals in Chicago's west and southwest suburbs since late last year.
A man has been charged with multiple acts of mail theft and burglary in the Chicago area dating back up to three years.
Chicago police on Wednesday released a surveillance image of someone they said was spotted fleeing the scene as a cross burned in Grant Park.
