Inflation topped 4% in May as CPI surged to highest level in 3 years
The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
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The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
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.
Colorado Democrats are rushing to show a united front two days after the primary election exposed deep divisions within the party.
Arvada is the latest Colorado community to cancel or postpone its Independence Day fireworks celebrations due to critical fire danger across much of the state.
At more than 2,200 acres and with evacuations and pre-evacuation notices still in place, smoke from the Willow Fire has become part of daily life in Colorado's highest incorporated city.
On Thursday, Colorado Gov. Jared Polis spoke to the community in Pueblo, announcing that federal resources are now available as firefighters continue working to contain multiple wildfires across the state.
The Aspen Acres Fire has burned more than 50,000 acres since it sparked west of Beulah, Colorado, on Monday, forcing many residents in the area to leave quickly. Meanwhile, firefighters continue efforts to bring the blaze under control in dangerous conditions.
The wildfire in Pueblo County and Custer County has forced new evacuations.
Polls have closed in the Colorado primary election. Track the live vote count in statewide races.
Colorado Democrats are rushing to show a united front two days after the primary election exposed deep divisions within the party.
Arvada is the latest Colorado community to cancel or postpone its Independence Day fireworks celebrations due to critical fire danger across much of the state.
At more than 2,200 acres and with evacuations and pre-evacuation notices still in place, smoke from the Willow Fire has become part of daily life in Colorado's highest incorporated city.
Colorado Democrats are rushing to show a united front two days after a primary election that exposed deep divisions between progressives and the party's more moderate members.
As drought conditions continue across much of Colorado, homeowners have another opportunity to save water while adding color to their landscapes.
Denver Health's Dr. Lindsey Fish joined CBS Colorado in the studio on Thursday to share some of the best ways to make the most of your 4th of July in a safe and fun way.
Watch Dave Aguilera's Forecast
The Regional Transportation District will add rail cars to the C, E, W, and N lines on Friday and Saturday, July 3 and 4, to accommodate expected increased ridership during downtown events.
Folarin Balogun got the scoring going with a goal in the 45th minute, but was sent off with a controversial red card in the 64th minute.
Tickets for the 14 free and open Denver Broncos Training Camp practices were made available on Wednesday morning to both season ticket holders and the general public.
Former NBA players Malik Beasley and Ed Davis have been indicted on illegal sports gambling charges, authorities announced Monday.
On Friday, Denver Summit FC celebrated another major milestone with the opening of the team's new performance center in Centennial.
The U.S. men's team had already clinched its spot in the Round of 32, the knockout round, with its 2-0 win over Australia on Friday.
June's payroll gains were much lower than the 100,000 new hires that economists had predicted.
Folarin Balogun got the scoring going with a goal in the 45th minute, but was sent off with a controversial red card in the 64th minute.
On the same morning Sen. Mitch McConnell was hospitalized last month, EMS personnel went to his home to respond to an unconscious person who appeared to experience "cardiac arrest," according to a dispatch call.
Almost 60,000 buildings may have been damaged or destroyed in Venezuela after two powerful earthquakes last week, according to a NASA satellite assessment.
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
Colorado Democrats are rushing to show a united front two days after the primary election exposed deep divisions within the party.
Congresswoman Diana DeGette is an icon in Colorado's Democratic party. In any other election year, that would be an asset.
On the same morning Sen. Mitch McConnell was hospitalized last month, EMS personnel went to his home to respond to an unconscious person who appeared to experience "cardiac arrest," according to a dispatch call.
NCAA President Charlie Baker told CBS News he doesn't think the group will need to change its rules on transgender athletes in light of a Supreme Court ruling that allowed states to ban their participation.
Almost 60,000 buildings may have been damaged or destroyed in Venezuela after two powerful earthquakes last week, according to a NASA satellite assessment.
Actor Danny Glover spoke about his Alzheimer's diagnosis in an interview with NBC's "Today" show, revealing that he has been living with the disease for several years.
From screwworm to flesh-eating bacteria, mounting public health risks are emerging in the wake of deep cuts to federal health agencies and programs.
The Colorado Department of Public Health and Environment issued an Air Quality Health Advisory for nearly 20 counties, warning that smoke from large fires could bring periods of moderate to heavy smoke.
For the first time, Medicare will cover GLP-1 drugs prescribed solely for weight loss for eligible beneficiaries at a $50 monthly copay.
Larimer County in Northern Colorado confirms first human case of West Nile virus this year
June's payroll gains were much lower than the 100,000 new hires that economists had predicted.
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
After January 2028, new games will be available exclusively in digital format from the PlayStation Store and at retailers, Sony said.
Artificial intelligence giant Anthropic says the federal government lifted a set of restrictions on its powerful Claude Fable 5 and Mythos 5 models, resolving a weekslong dispute.
President Trump earned more than a billion dollars from crypto-related ventures alone last year, according to a financial disclosure, including from his meme coin business and his family's cryptocurrency firm.
The City of Denver is giving itself stronger enforcement tools to hold owners of neglected and derelict properties accountable, including significantly larger fines for those who fail to comply with city orders.
A Colorado administrative law judge has upheld the demotion of a former Colorado Department of Corrections manager who admitted participating in years of inappropriate text message exchanges with other prison leaders.
A man who stayed at a downtown Denver hotel last summer says he woke up to bats flying around his room — and that one of them bit him. He has now filed a lawsuit against the hotel.
A Keenesburg police officer pleaded no contest to reckless driving and reckless endangerment stemming from a 2025 crash on Interstate 25 that the Colorado State Patrol said he caused -- and then fled from.
A locksmith who investigators believe has been targeting older adults in the Denver metro area is now facing theft charges.