Inflation rate rose by 2.7% in July, CPI report shows
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
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The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
President Trump officially began levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his months-long tariffs threats begins to create visible damage to the U.S. economy.
The U.S. officially began levying higher tariffs on dozens of countries, just as the economic fallout of President Trump's months-long tariffs threats was beginning to create visible damage to the U.S. economy.
On July 27, Ursula von der Leyen, the president of the European Commission and President Trump agreed to a deal that included a 15% tariff on most goods from the EU.
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.
Higher tariffs will be imposed on more than 60 U.S. trading partners starting next week as the Trump administration passed their self-imposed deadline.
President Trump said he's giving Mexico an additional 90 days to strike a trade deal the day before the Aug. 1 deadline he set to impose 30% tariffs on imports from the country.
Opening arguments start Thursday in a federal case that could upend President Trump's signature trade policy.
Parents have started back-to-school shopping extra early this year, trying to get supplies before prices go up from Trump's tariffs.
President Trump said he's considering using money generated by U.S. tariffs to offer a "little rebate" to Americans.
More than 65 toymakers showed off new creations at the Toy Insider's Sweet Suite event. With this year's new tariffs, Hasbro's CEO said toy prices in the U.S. could rise later this year.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
The president has threatened to impose 100% tariffs on countries that buy oil and gas from Russia, including China and Brazil, if a peace deal to end the war with Ukraine is not reached within the next seven weeks.
President Trump said Monday that the U.S. will impose 100% tariffs on countries that do business with Russia if there is no peace deal to end the war in Ukraine within 50 days.
During a meeting Monday morning with the NATO secretary-general, the president gave Russian President Vladimir Putin 50 days to cut a peace deal.
President Trump announced on social media that he is levying 30% tariffs against Mexico and the European Union. They are set to begin on Aug. 1.
He announced the tariffs on two of the United States' biggest trade partners in letters posted on this Truth Social account.
Canada — one of the U.S.'s largest trading partners — will face 35% tariffs, President Trump said Thursday.
The president announced the 35% tax in a letter to Canadian Prime Minister Mark Carney posted to Truth Social. He cited Canada's alleged "failure to stop the drugs from pouring into our country."
President Trump's move to impose a 50% tariff on U.S. copper imports targets a vital metal that is widely used in many products and industries, which could lead to higher prices for everything from appliances and electronics to cars and home repairs, experts say.
He says the company's main international suppliers are China and Vietnam, and the Trump administration has implemented steep tariffs on both countries.
In a social media post, Trump alleges Brazil's president is undertaking a “witch-hunt” over charges against former President Jair Bolsonaro, and says they should end it immediately.
On Wednesday morning, President Trump posted to social media letters to six additional countries, informing them of new tariffs.
Hundreds of people will jump into the Chicago River this weekend for the Chicago River Swim raising money for ALS research and swim lessons. But how do you know it's safe to get in the water?
A Barrington woman is charged with sexually assaulting a 16-year-old boy, police said.
Petey Halpin hit a three-run home run in the sixth inning, Parker Messick struck out eight and the Cleveland Guardians moved into first place in the AL Central with a 6-3 victory over the Chicago White Sox.
The nonprofit group Chi-CARN is on a mission to make clean indoor air as accessible as possible as new reports show extreme wildfires are becoming more common and their health risks may be severely underestimated.
Reps. Zach Nunn and Mariannette Miller-Meeks reversed course on a House resolution to require congressional approval for continued military action against Iran, citing open-ended war concerns ahead of competitive midterm races.
Reps. Zach Nunn and Mariannette Miller-Meeks reversed course on a House resolution to require congressional approval for continued military action against Iran, citing open-ended war concerns ahead of competitive midterm races.
Mayor Brandon Johnson has dropped a key provision of his proposal to increase protections for Chicago renters, but it remains unclear if his revised ordinance will clear a City Council committee on Wednesday, amid ongoing opposition from landlord groups.
Illinois' senior senator, the Judiciary Committee's top Democrat, opened Tuesday's oversight hearing by accusing the director of turning the bureau's powers against President Trump's political opponents.
Three Chicago City Council members announced they have negotiated a revised parking meter deal with New York-based Stonepeak Partners to the benefit of the city.
The Legislative Ethics Commission has appointed David Risley acting legislative inspector general effective the day following the Sept. 30 resignation of his predecessor.
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.
A judge on Tuesday was expected to place two shuttered Chicago-area safety-net hospitals into receivership.
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 future of Rate Field was back in the spotlight on Wednesday.
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.
Aaron Rowe, Beoga, Lukas Graham and Finneas all released statements Tuesday on Instagram saying they were withdrawing from Ed Sheeran's tour.
Performer Macklemore is being dropped from Ed Sheeran's Loop tour after making on-stage statements that some found controversial.
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 Federal Reserve raised interest rates for the first time since 2023 on Wednesday, reversing course as the Iran war drives up global energy prices and fuels inflation.
Chicago police on Wednesday were looking for a man who attacked and beat another man and ordered his dog to bite the victim in the Edgewater neighborhood.
A Barrington woman is charged with sexually assaulting a 16-year-old boy, police said.
Meteorologist David Yeomans has the extended forecast.
The state agency that owns the ballpark must consider what comes next for Rate Field as the White Sox explore a potential move and a major construction project threatens to reduce parking.
Illinois' senior senator, the Judiciary Committee's top Democrat, opened Tuesday's oversight hearing by accusing the director of turning the bureau's powers against President Trump's political opponents.
Mayor Johnson dropped a key provision of his proposal to increase protections for Chicago renters, which cleared its first council committee Wednesday.
Hundreds of people will jump into the Chicago River this weekend for the Chicago River Swim raising money for ALS research and swim lessons. But how do you know it's safe to get in the water?
A Barrington woman is charged with sexually assaulting a 16-year-old boy, police said.
The nonprofit group Chi-CARN is on a mission to make clean indoor air as accessible as possible as new reports show extreme wildfires are becoming more common and their health risks may be severely underestimated.
A Cicero woman is suing Uber and a driver after the driver allegedly sexually assaulted her. She and her boyfriend said Uber hired him despite the driver having a criminal background.
Both hospitals were supposed to be placed in receivership, but after five hours of closed-door negotiations on Tuesday, it is still unclear what the future holds for both hospitals.
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.
Petey Halpin hit a three-run home run in the sixth inning, Parker Messick struck out eight and the Cleveland Guardians moved into first place in the AL Central with a 6-3 victory over the Chicago White Sox.
Chicago Bears running back D'Andre Swift has been named the NFC Offensive Player of the Week after his performance in the team's record-breaking 59-37 win over the Carolina Panthers.
The Cubs (84-68) maintained a half-game lead over Philadelphia (83-68) for the top NL wild card.
The White Sox, who lost at least 100 games in each of the past three seasons, have held at least a share of first since July 4.
Indiana Fever guard Sophie Cunningham outlined the traits she wants in the WNBA's next commissioner — someone who values players, communicates openly, and can unite a diverse league.
Three girls have been charged with threatening a school in the west Chicago suburb of Addison, with two of them making a video depicting a shooting at the school, authorities announced Wednesday.
A Zion man has been charged in the shooting death of another man in July in north suburban Ingleside.
Chicago police on Wednesday were looking for a man who attacked and beat another man and ordered his dog to bite the victim in the Edgewater neighborhood.
Shots were fired during a fight early Wednesday morning on busy Lincoln Avenue in Chicago's Budlong Woods neighborhood.
A judge allowed a school bus aide charged in connection with a shooting on a bus in Chicago's Bridgeport neighborhood to be released with conditions.
