CPI surged in April as inflation soars to highest level in almost 3 years
U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
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U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
The Federal Reserve is contending with rising inflation amid the war and a lackluster job market, along with the departure of Fed Chair Jerome Powell.
Inflation rose at an annual rate of 3.3% in March, driven by the sharpest monthly increase in gas prices since 1967.
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.
Every 1-cent increase in gasoline prices reduces consumer spending by $1.5 billion annually, one economist says.
Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
Economists had expected CPI to rise at an annual rate of 3% last month.
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.
Economists think inflation around the U.S. continued to climb in September, edging farther away from the Fed's 2% annual target.
Persistent inflation remains a pain point for consumers — and for the Federal Reserve as it weighs whether to lower interest rates.
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
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.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
Beef costs around the U.S. surged to a record high in May. What's driving that jump, and are prices likely to ease up?
The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics.
Expired sales labels led to overcharges on more than 150 grocery items, according to an investigation led by Consumer Reports and others.
The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.
A new study from SmartAsset reveals varied increases in grocery prices depending on where you live.
Inflation cooled in March, but economists expect prices to reaccelerate as some of President Trump's tariffs kick in.
Americans express concern about their ability to pay bills and save money.
Sharp drop in closely watched consumer sentiment gauge marks the biggest monthly decline in confidence in more than four years.
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
A Colorado judge has ruled that ICE has continued to make unlawful warrantless arrests despite an injunction and has ordered them to take additional training.
Wednesday could also tie the daily record high for May 13. The current record is 90 degrees, set in 1915.
A Cybertruck crashed into the Primrose School in Lone Tree on Wednesday morning, sparking a fire that ignited the building.
A student was tackled in the hallways of Overland High School in Aurora on Wednesday morning and officers recovered a gun, according to investigators.
A new mural in downtown Castle Rock celebrates the history of the growing town.
A Colorado judge has ruled that ICE has continued to make unlawful warrantless arrests despite an injunction and has ordered them to take additional training.
Wednesday could also tie the daily record high for May 13. The current record is 90 degrees, set in 1915.
A Cybertruck crashed into the Primrose School in Lone Tree on Wednesday morning, sparking a fire that ignited the building.
A student was tackled in the hallways of Overland High School in Aurora on Wednesday morning and officers recovered a gun, according to investigators.
A new mural in downtown Castle Rock celebrates the history of the growing town.
A Colorado judge has ruled that ICE has continued to make unlawful warrantless arrests despite an injunction and has ordered them to take additional training.
An Overland High School student was tackled by a school resource officer in the hallway and a loaded gun was recovered.
The Civic Center Eats season kicked off in downtown Denver on May 13, featuring food trucks, live music and vendors.
A Cybertruck crashed into the Primrose School in Lone Tree on Wednesday morning, sparking a fire and forcing the building to be evacuated.
Wednesday could also tie the daily record high set back in 1915.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
The Broncos are kicking off the season in primetime. Denver will travel to Kansas City to play the Chiefs in Week 1 on Monday Night Football.
Craig Morton, who spent 18 years in the NFL and became the first quarterback to start the Super Bowl for two franchises — the Dallas Cowboys and Denver Broncos — has died.
Grandview High School has produced many professional athletes, including professional baseball players. This year, the school has a pitcher who is gaining a lot of national attention, named Ethan Wachsmann.
Two future WNBA players have played at Grandview High School in Aurora over the past ten years, and the school has won 5 CHSAA State titles.
Alex Murdaugh was convicted of his killing his wife and his son at the family's home in 2021.
The Trump Organization says its former Australian construction partner is just distracting from "his own defaults and failures" as he bails on plans for a Trump Tower.
A CBS News review of internal government documents and information provided to Congress shows immigration detention facilities at Guantanamo Bay are nearly empty.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
A Chinese manufacturing giant tells CBS News how its sprawling factory runs with a fraction of the human workforce previously required.
The Trump Organization says its former Australian construction partner is just distracting from "his own defaults and failures" as he bails on plans for a Trump Tower.
A CBS News review of internal government documents and information provided to Congress shows immigration detention facilities at Guantanamo Bay are nearly empty.
In November, Coloradans will get the chance to vote on a ballot measure to update the state's revenue cap and invest more money into K-12 education.
President Trump said Americans' financial situation isn't motivating him to make a deal, "Not even a little bit," and that he is only focused on preventing Iran from getting nuclear weapons.
Virginia Democrats asked the Supreme Court to restore its congressional map that aimed to give Democrats an edge in the midterms, days after it was blocked by the state's highest court.
Part of the problem starts before clinicians ever see a patient.
Jay Bhattacharya, the acting director of the Centers for Disease Control and Prevention, told CBS News that the hantavirus outbreak should be treated differently from COVID.
Most of the Americans who were on a cruise ship hit by a hantavirus outbreak were taken to specialized facilities at the University of Nebraska Medical Center.
Twenty-four out of Colorado's nearly 180 school districts have earned special recognition for asthma preparation and education.
More than 100 people from a cruise ship dealing with an outbreak of the rare and deadly hantavirus are set to be disembarked.
A Chinese manufacturing giant tells CBS News how its sprawling factory runs with a fraction of the human workforce previously required.
"I'd been checking the status feverishly to see if anything was in my bank account," one small business owner said.
A larger COLA would boost monthly checks for retirees, but also strain Social Security's already depleted trust funds.
U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
President Trump made the comments in a phone interview with CBS News chief White House correspondent Nancy Cordes.
Glendale city leaders are forcefully opposing Colorado's proposed Bus Rapid Transit project on Colorado Boulevard, warning the plan could dramatically worsen traffic for drivers while delivering only modest transit gains.
A jury in Douglas County awarded a New Jersey man $24 million after he sued a Parker police detective for malicious prosecution and false arrest.
A Denver County Court judge on Friday sentenced a vocal police critic to 60 days in jail and two years of probation, saying he needed to send a message that would deter her and her YouTube followers from future doxing of law enforcement.
City-funded contractors have been moving through Denver neighborhoods, replacing sections of sidewalks, frustrating some homeowners. The work was part of a broader program aimed at making city sidewalks more usable and accessible.
While touring the Marvin Foote Youth Services Center, Colorado state officials described the efforts behind massive changes being made to operations across juvenile detention facilities statewide.