Mortgage rates rise as Iran war heightens U.S. inflation fears
Mortgage rates, though still well below their level a year ago, have edged up since the Iran war erupted. Here's why.
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Mortgage rates, though still well below their level a year ago, have edged up since the Iran war erupted. Here's why.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
The Bureau of Labor Statistics released new numbers about the overall economy, showing modest inflation of .3% last month and 2.7% in the year. Streaming video services were a major outlier and saw an inflation of nearly 20% in the same period.
Although there are signs that inflation is starting to ease, consumers still face pressures from high food prices and other costs.
President Trump says he's winning the war against inflation. But a look at prices around the U.S. shows why many Americans still feel financially squeezed.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
Inflation last month rose at an annual rate of 3%, coming in below economists' forecasts as the impact of President Trump's tariffs remain muted.
The Consumer Price Index climbed at an annual rate of 3% in September, coming in below economists' forecasts as the impact of President Trump's tariffs remain muted.
Social Security's annual cost-of-living adjustment is aimed at helping the program's 75 million beneficiaries keep pace with inflation.
Citing the shutdown, the Social Security Administration postponed its announcement of the annual payment bump beneficiaries will receive in 2026.
The Consumer Price Index is now at 2.9%, up a 0.4% from the previous month.
Today's CPI report marks the last major piece of economic data before the Federal Reserve's Sept. 17 rate decision meeting.
The cost of electricity is rising faster than inflation, with one in six households behind on their electric bills.
Prices rose at an annual pace of 2.6% in July, the same rate as the previous month and in line with economist forecasts.
Wages are still lagging behind inflation four years after the pandemic caused prices to soar and created a cost-of-living crisis for many households, a new study finds.
The producer price index, or PPI, surged last month, far outpacing economists' forecasts and suggesting that President Trump's tariffs are starting to significantly drive up the cost of imported goods.
Americans are reining in their spending at fast-food restaurants as they continue to face economic uncertainty.
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
The Consumer Price Index, which measures inflation, rose 2.7% on an annual basis in July, slightly cooler than forecasted. Prices, however, continue to be impacted by Trump's tariffs.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
CBS News is tracking the rising cost of products most impacted by tariffs already imposed and new ones announced by President Trump, from grocery items to cars and trucks.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
In June, the Consumer Price Index rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.
Chicago police are questing a person of interest in connection with the fatal shooting of Loyola University student Sheridan Gorman.
A man was shot while inside his car in Chicago's River North neighborhood early Saturday morning.
A man was stabbed on a CTA Blue Line platform overnight on Chicago's West Side.
You might drive on part of the 77-mile stretch of Interstate 90 known as the Jane Addams Memorial Tollway, but do you know the story of the woman who it's named after?
People enjoyed Friday's warm weather while taking in an annual tradition provided by Mother Nature, as determined photographers sought to capture the perfect shot of "Chicagohenge" on the first day of spring.
Chicago's public safety plan is in flux after Mayor Brandon Johnson fired his deputy mayor of community safety, Garien Gatewood.
The first Marine Expeditionary Unit, which is coming from the Pacific, is still making its way toward the region.
More Democrats are openly running on faith, as progressive clergy and other religious candidates push back on the idea that Christianity belongs to the right.
The Trump administration argued that Harvard unlawfully discriminated against Jewish and Israeli students, in violation of federal civil rights law.
Mayor Brandon Johnson has fired Garien Gatewood, his first deputy mayor for public safety, a position Johnson created just days after taking office in 2023.
Tenants at a South Loop luxury high-rise that has been plagued with problems like broken elevators are vowing to fight five-day eviction notices.
It's become an annual March Madness tradition at CBS Chicago, pitting our city's best eateries in direct competition in a foodie bracket challenge. We did pizza, we've done Italian beef, we've done Chicago dogs. This year, we're taking flight with wings.
For Cook County residents hoping to lower their property tax bills, applications are open for exemptions.
Officials in the north Chicago suburb of Wilmette issued a warning Tuesday about scammers who are impersonating representatives of village departments.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning.
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to roll back its civil rights code last year.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
When a doctor was told there was no cure for his daughter's condition, he was motivated to transform not only her health, but the lives of thousands of others.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
Hundreds of workers were locked out of the BP refinery in Whiting, Indiana, on Thursday after contract negotiations failed to produce a deal ahead of a midnight deadline.
The artificial intelligence and cryptocurrency industries have suffered a setback as they try to reshape the midterm elections and establish themselves as power players in American politics.
Wednesday marked the last day to help celebrate Lou Malnati's pizzeria's 55th birthday with a special deal.
Despite a rash of restaurant closures, veterans of the plant-based food business pushed back against prophecies of doom — and in one case argued that such closures notwithstanding, plant-based eating is only growing.
Two popular Chicago craft breweries – Half Acre Beer Co. and Maplewood Brewery & Distillery – announced on Tuesday they are merging to create a new "premier Chicago beverage company."
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
ABC has canceled its already filmed season of "The Bachelorette" starring Taylor Frankie Paul after video surfaced of a 2023 incident in which she was charged with assault.
Acclaimed Chicago bar and music venue The Hideout has been sold to a performer and former employee, but the owners said it will carry on as the same beloved place that visitors have always known.
Afroman spoke to CBS News after he won the case, which tested the limits of parody and the license artists can take in social commentary directed at public figures.
The late Sister Jean has been honored with T-shirts, socks, and bobbleheads — and now her spirit lives on with a new documentary.
Chicago police are questing a person of interest in connection with the fatal shooting of Loyola University student Sheridan Gorman.
Chicago police are questing a person of interest in connection with the fatal shooting of Loyola University student Sheridan Gorman.
A woman died after she was found inside a burning home in Logan Square.
A man is in court on Saturday for the death of a Chicago firefighter who died from injuries after battling a fire in Rogers Park.
Meet Lenore, she is looking for a forever home!
Chicago police are questing a person of interest in connection with the fatal shooting of Loyola University student Sheridan Gorman.
A Chicago man is charged with murder and arson in the death of Chicago firefighter Michael Altman.
A man was stabbed on a CTA Blue Line platform overnight on Chicago's West Side.
Police in Barcelona said the death of Jimmy Gracey, a University of Alabama student from Illinois who went missing on vacation, was likely an accident.
A man was shot while inside his car in Chicago's River North neighborhood early Saturday morning.
United Steel Workers union representatives said that some workers had already had their access cards deactivated.
Have you ever walked into a business with no employees? You may soon; autonomous businesses are becoming more popular.
Streets were left pooled with rainwater, and homes flooded after Sunday night's storms. Residents say there is one clear solution
Attorneys for the family of a woman killed in a crash during a high-speed police chase in 2017 say officers involved failed to activate their body cameras or turned them off during the pursuit.
A new specialized unit is being created to prosecute domestic violence homicides in Cook County, as these killings surged 15% last year, even as overall violent crime declined across Chicago.
Nathan MacKinnon had three assists in Colorado's 4-1 victory over the Chicago Blackhawks, helping the Avalanche become the first NHL team to clinch a playoff spot this season.
The Fighting Illini are dreaming of a trip to the Sweet 16 after a dominating win Thursday night against Penn. Next up for No. 3-seeded Illinois is a showdown with No. 11 seed VCU on Saturday night.
David Mirkovic had 29 points and 17 rebounds, and No. 3 seed Illinois dominated No. 14 seed Penn 105-70 on Thursday night in the first round of the NCAA Tournament.
Connor Bedard scored a goal and defenseman Alex Vlasic made a game-saving stop as time ran out as the Chicago Blackhawks beat the Minnesota Wild 2-1 to snap the NHL's longest active point streak for one team against another.
James Harden scored 36, Evan Mobley added 26 points and 14 rebounds and Cleveland hung on to beat the Chicago Bulls 115-110 even though Cavaliers star Donovan Mitchell missed the game because of a bruised left eye.
A man was charged Thursday after a long police chase that alternated between high and low speeds on interstates through Chicago's north suburbs the day before.
The man who attacked a synagogue in Michigan last week sent a photo of himself with the AR-style rifle he had during the attack to a family member in Lebanon, according to a U.S. official.
A man from Chicago's northwest suburbs stood charged Tuesday with leaving the scene of a crash and driving drunk, after authorities said he hit a pedestrian overnight near Barrington, Illinois.
A man stood charged Tuesday in two separate shootings that wounded a Chicago police sergeant and a 63-year-old woman in the Pullman and Roseland neighborhoods this past weekend.
Jurors delivered their verdict Monday in the trial of Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief.
