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.
Every 1-cent increase in gasoline prices reduces consumer spending by $1.5 billion annually, one economist says.
Those prioritizing economy say Trump is not spending enough time on it, as ratings of economy, his handling of inflation slip.
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 White House levied new import duties on its three closest trading partners.
"Shrinkflation" — when companies charge the same for smaller sizes — is a sneaky way to raise prices. Read on to see what kind of products have shrunk the most.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The deal, available through Subway's app and website for a limited time, is aimed at inflation-weary consumers.
Drivers could continue to see higher car insurance rates in 2024, with the average U.S. rate projected to jump 22% this year.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
Although Donald Trump vows to bring U.S. prices down "very quickly," some economists say his policies could rekindle inflation. Here's what to know.
The latest consumer price data furthers the case for an interest rate cut by the Federal Reserve as soon as September.
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
The hotter-than-expected inflation reading could cause the Federal Reserve to delay interest rate cuts, analysts said.
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Chipotle attributes plans to bump up menu prices again to "state of the economy," a company spokesperson told Insider.
The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
Stubbornly high prices are continuing to ease, but remain far above Fed's target.
A dollar spent on food is split up among a dozen industries, many of which are seeing their own prices rise.
Lower-income Americans and seniors are among those hit hardest by stubbornly high grocery prices.
As Californians prepare to celebrate Labor Day and the contributions of American workers, labor unions are raising alarms about what they see as a growing threat to the future of human work.
Deputies from Los Angeles and Orange counties seized roughly 2,400 stolen catalytic converters and arrested five people in a joint bust on Thursday.
Every weekend, Bree Juan and her 15-year-old son, Skylar, make the drive from Orange County to Koreatown to set up their food stand at the corner of Third Street and Vermont.
Security video from a 7-Eleven in Hollywood shows a woman throwing an 18-year-old girl to the ground before stealing her gold chain.
Hochman called it a relentless pursuit of truth and justice, as information began to come to light that Michael Renteria had been wrongfully convicted, citing a case of mistaken identity. New evidence came forward after his 2016 sentence, Hochman said.
As Californians prepare to celebrate Labor Day and the contributions of American workers, labor unions are raising alarms about what they see as a growing threat to the future of human work.
Deputies from Los Angeles and Orange counties seized roughly 2,400 stolen catalytic converters and arrested five people in a joint bust on Thursday.
Every weekend, Bree Juan and her 15-year-old son, Skylar, make the drive from Orange County to Koreatown to set up their food stand at the corner of Third Street and Vermont.
Security video from a 7-Eleven in Hollywood shows a woman throwing an 18-year-old girl to the ground before stealing her gold chain.
Hochman called it a relentless pursuit of truth and justice, as information began to come to light that Michael Renteria had been wrongfully convicted, citing a case of mistaken identity. New evidence came forward after his 2016 sentence, Hochman said.
Deputies from Los Angeles and Orange counties seized roughly 2,400 stolen catalytic converters and arrested five people in a joint bust on Thursday.
Every weekend, Bree Juan and her 15-year-old son, Skylar, make the drive from Orange County to Koreatown to set up their food stand at the corner of Third Street and Vermont.
Security video from a 7-Eleven in Hollywood shows a woman throwing an 18-year-old girl to the ground before stealing her gold chain.
Hochman called it a relentless pursuit of truth and justice, as information began to come to light that Michael Renteria had been wrongfully convicted, citing a case of mistaken identity. New evidence came forward after his 2016 sentence, Hochman said.
The Lynwood Library reopened on Friday after an $8 million renovation, the branch's first major upgrade since opening in 1977.
Deputies from Los Angeles and Orange counties seized roughly 2,400 stolen catalytic converters and arrested five people in a joint bust on Thursday.
Every weekend, Bree Juan and her 15-year-old son, Skylar, make the drive from Orange County to Koreatown to set up their food stand at the corner of Third Street and Vermont.
The fire was reported just after 2 p.m. near the Ortega Highway, which connects Orange County to Riverside County.
The Orange County coastline is facing significant erosion with the looming El Niño winter, and already some parts of the shoreline are being impacted by the powerful surf.
The city held a ceremony to remember the 82 victims and those affected 40 years later.
A Riverside County man was arrested for allegedly riding a motorcycle into a crowd of people in Riverside on Wednesday morning, injuring two people.
A Chino man with an elaborate home garden that has drawn scrutiny from neighbors and city leaders, resulting in fines, says that he is being subjected to more penalties despite adhering to city guidelines.
In a last-ditch effort, Supervisor Janice Hahn urged Gov. Gavin Newsom to halt the plan to eradicate mule deer from Catalina Island.
A 54-year-old Riverside County man was arrested last week for a deadly stabbing that happened in the unincorporated community of Mead Valley near Perris.
An 18-year-old was arrested for allegedly cutting down a Flock camera in Temecula on Tuesday night, according to the Riverside County Sheriff's Office.
Here's what may happen next after a mistrial was declared in Lindsay Clancy's murder case.
Playing together at the U.S. Open in New York for the first time in four years, Serena and Venus Williams lost in a three-set thriller match in the first round of the women's doubles tournament.
Gloria Steinem, co-founder of Ms. Magazine, was a leader in raising awareness about gender equality and violence against women, and for promoting inclusion, representation and social justice for women and girls.
Two people are dead and at least five others are injured, including three officers, after a shooting near 15 East Grant Street Wednesday afternoon in downtown Minneapolis, according to police. The suspected shooter is also dead.
Tiger Woods has pled no contest to a charge of reckless driving months after pleading not guilty to two misdemeanor charges.
A federal judge has temporarily blocked a Trump executive order that would prevent certain people from automatically becoming U.S. citizens at birth.
At least 20 generals, admirals and civilian defense leaders have been fired or have departed their jobs since Pete Hegseth became defense secretary at the beginning of the second Trump administration.
GOP leaders scheduled the vote after Democratic primary voters embraced a number of democratic socialist candidates.
CBP informed Gregory Bovino in an email on March 2 that the agency was "conducting an official Inquiry into allegations of misconduct reported to CBP." He initiated retirement 16 days later.
The whistleblower, described by lawyers as a federal official, disclosed information about the Postal Service's new mail-voting procedures to Democratic Sen. Richard Blumenthal of Connecticut.
Homeowners getting their insurance through the California FAIR Plan will soon be paying even more, but industry observers say it may be a good sign for the state's insurance market.
Voters in California may soon decide on a ballot measure that seeks to help the state's middle class afford to buy a home, by establishing a $25 billion loan program that would provide down payment assistance.
Some Trader Joe's shoppers will get a payout after a lawsuit alleged that the retailer's customer receipts put shoppers at risk of ID theft.
California Attorney General Rob Bonta and local prosecutors urged parents to check their children's e-bikes, saying some of the vehicles may be motorcycles or mopeds capable of high speeds.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
Patients taking the first-of-a-kind pill, called daraxonrasib, lived for a median of 13.2 months compared with 6.7 months for chemotherapy recipients, studies showed.
Moderna and Merck announced study results that reflect a "landmark moment" in treatment for one of the deadliest forms of skin cancer.
The Social Security Administration is expanding its list of diseases and other health conditions that may qualify for accelerated approval of disability benefits.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
Orange County Health Care Agency officials have confirmed the county's first human West Nile virus case of 2026, amid what some medical experts believe could be one of the worst mosquito seasons on record.
As Californians prepare to celebrate Labor Day and the contributions of American workers, labor unions are raising alarms about what they see as a growing threat to the future of human work.
California regulators approved Waymo to expand its services in Los Angeles and the Bay Area, and to offer its autonomous ride-hailing service in Sacramento and San Diego in the future, the company said Friday.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
California Gov. Gavin Newsom on Friday announced the rollout of the state's new electric vehicle instant rebate program, touting it as part of an investment in the state's clean-vehicle future.
Initial findings showed no evidence of rising statewide unemployment claims from workers in occupations considered highly exposed to AI.
Playing together at the U.S. Open in New York for the first time in four years, Serena and Venus Williams lost in a three-set thriller match in the first round of the women's doubles tournament.
The San Francisco 49ers have arrived in Melbourne for their season-opening NFL game against the Los Angeles Rams at the Melbourne Cricket Ground on Sept. 11.
Thomas Saggese hit a go-ahead single in the 10th inning, leading the St. Louis Cardinals to an 8-6 win over the Los Angeles Dodgers.
Cam Schlitter gave up one run and two hits in eight superb innings, and the New York Yankees scored five two-out runs in 10th in a 6-3 victory over the Los Angeles Angels on Wednesday night.
Los Angeles Dodgers pitcher Eric Lauer is on the injured list with left elbow inflammation.
While performing in St. Louis on Saturday night, Lionel Richie appeared at one point to lean on a piano for support, according to video from the show.
The international airport in Nashville, Tennessee, would be renamed for Dolly Parton under a proposal by Tennessee's governor.
Both sides have rested in the murder trial of Duane "Keffe D" Davis, who prosecutors allege orchestrated the 1996 murder of Tupac Shakur.
Tim Curry was known for his iconic performances in cult classics like "The Rocky Horror Picture Show" and the original screen adaptation of Stephen King's "It."
Audience members at a stage performance of "9 to 5: The Musical" in the U.K. were heard gasping aloud at the news of Dolly Parton's death Tuesday.
Trading the anchor desk for the stadium, Pat Harvey is at the new ONT Field in Ontario, home of the Ontario Tower Buzzers, the new Single-A affiliate of the Los Angeles Dodgers.
Evelyn Taft and Michele Gile track the weather conditions during Labor Day weekend.
A mother is turning a weekend food stand into a growing business and a source of confidence for her teenage son, who has autism. Luzdelia Caballero reports.
Security video from a 7-Eleven in Hollywood shows a woman throwing an 18-year-old girl to the ground before stealing her gold chain. Jasmine Viel reports.
Four people are dead and two others are in critical condition after a rollover crash on Friday morning near Wrightwood. Joy Benedict reports.
Some of golf's best are facing off at the U.S. Women's Open at the Riviera Country Club in the Pacific Palisades over the weekend. The event runs from June 2 to June 7.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Franklin Fire in Malibu quickly grew overnight and threatened several homes. Evacuation orders were issued and Pepperdine University instructed students to shelter in place.
