An inflation measure watched by the Fed eases to 5.5%
Personal consumption expenditures increased at the lowest rate in over a year, showing the long run-up in prices is likely ending.
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Personal consumption expenditures increased at the lowest rate in over a year, showing the long run-up in prices is likely ending.
The minimum salary people want has risen to 8-year high, reflecting a hot job market and high cost of living, a survey says.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
Inflation is driving up prices at grocery stores, and fewer donations are impacting food banks.
Annual holiday feast is likely to see sharply higher prices for turkey and other traditional food items.
From higher prices to "shrinkflation" grocery trips are costing shoppers more and more. However, there are small and easy ways to save money. Joy Benedict reports.
The 10 most popular candy brands have seen an average price increase of 13% since 2021, according to Datasembly.
The National Retail Federation estimates that people will spend more than $3 billion on Halloween candy. Jasmine Viel reports.
Kristine Lazar reports on the array of checks heading toward millions of Californian's bank accounts in the form of inflation relief due to escalating gas prices.
The price of poultry has been steadily rising after a bird flu killed millions of turkey. Michele Gile reports.
"The Fed isn't about to 'pivot' and there is more monetary tightening to come," said one analyst.
Fed Chair Jerome Powell says curbing inflation will cause pain. Critics say putting millions out of work is unnecessary.
Julie Ramhold, a Consumer Analyst with DealNews.com, joined the studio to provide some tips for parents to avoid inflation as children head back to school taking advantage of online deals.
The U.S. Bureau of Labor Statistics announced the rise in food prices in its latest report.
Consumer prices rose 8.5% over the past 12 months, marking a slowdown but still painfully high for millions of Americans.
The bill's passage is a significant achievement for Democrats as they look to maintain their hold on Congress in the November midterm elections.
Industry experts report that airlines and travel companies are struggling to meet the demand of travelers, who are hitting the road and skies at nearly all-time highs, despite rising inflation.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Rina Nakano reports on "heatflation," a term coined by climate change experts and food industry analysts to describe the growing burden that higher temperatures puts on those in the agricultural industries and, ultimately, spikes the cost of food for consumers.
Consumer prices increased by 9.1%, according to the Labor Department, and the sudden acceleration in prices has many people needing help to get by.
Jasmine Viel reports on how the spike in inflation, which drives up the cost of everyday goods and services, has also driven up demand at local food banks.
The start of 2022 has pushed Wall Street into a bear market. Here's what the rest of the year could hold for investors.
While many people have a bleak outlook of the current economy, investment professional Chris Markowski predicts the price of some every day products at stores like Target will come down around Independence Day.
Jason Robertson had two goals and an assist, and the Dallas Stars beat the Anaheim Ducks 8-3 for their third straight win.
Authorities said the closure was expected to last until at least 9 a.m.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
The chase began in Hacienda Heights, officers said.
James Harden had 34 points, Brook Lopez scored 31 points, including a career-high nine 3-pointers, and the Los Angeles Clippers beat the Portland Trail Blazers 119-103 for their third straight win.
Authorities said the closure was expected to last until at least 9 a.m.
The potential for flooding remains high because parts of the ground remain heavily saturated. Weather officials warn that rainfall will quickly turn into runoff.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
The chase began in Hacienda Heights, officers said.
The pedestrian was struck and killed at around 5 a.m. on Friday morning near Van Nuys Boulevard and Armita Street, according to LAPD detectives.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
The chase began in Hacienda Heights, officers said.
The pedestrian was struck and killed at around 5 a.m. on Friday morning near Van Nuys Boulevard and Armita Street, according to LAPD detectives.
A man's body was found inside a partially submerged car in Lancaster on Friday morning, hours after the region was battered by rain from a powerful winter storm.
National Weather Service officials said that they were investigating a possible tornado that caused damage in Boyle Heights on Christmas Day.
It happened at around 10:23 p.m. on Saturday near S. Gilbert Street and Carol Drive, according to the Fullerton Police Department.
Police say that the shooting stemmed from a fight at a party on Friday night.
Southern California air quality regulators extended a no-burn alert for much of Los Angeles, Orange, Riverside and San Bernardino counties.
With Hanukkah underway and Christmas approaching, CBS LA is issuing a Next Weather Alert for rainy weather this holiday season.
The decision to settle was reached after a two-month civil trial in a wrongful death lawsuit.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
Highway 2 leading into Wrightwood is washed out due to flooding, with evacuation and safety warnings in place as crews work to get the situation in the area under control, according to San Bernardino County Fire.
Two people were arrested for allegedly stealing a horse worth approximately $80,000 in November, according to the Riverside County Sheriff's Office.
Firefighters said that the pilot deployed an "airframe parachute system," which allowed the aircraft to make a safe landing in the Cleveland National Forest.
Firefighters said that two of the residence's five occupants were found dead after they extinguished the fire. "Multiple household pets" also died in the blaze, according to Murrieta Fire & Rescue.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
Several major retailers are now charging customers to return items even if they are unopened and in perfect condition.
Karoline Leavitt and her husband, Nicholas Riccio, welcomed their first child, also named Nicholas, in July 2024.
With President Trump declaring Dec. 26 a federal holiday, here's what's open and closed on Dec. 26.
A strong storm system that brought relentless winds, rain and snowfall to California was expected to ease Friday, but there was still a risk of more mudslides and flooding, forecasters said.
Karoline Leavitt and her husband, Nicholas Riccio, welcomed their first child, also named Nicholas, in July 2024.
Strikes against ISIS targets in Nigeria come after President Trump spent weeks accusing the West African country's government of failing to rein in the persecution of Christians.
The Justice Department said the process of releasing the Epstein files may take "a few more weeks" due to the volume of materials.
The Justice Department is facing continued backlash over its partial releases of the Epstein files, with lawmakers and survivors denouncing the limited scope of the disclosures.
Secretary of the Interior Doug Burgum said the agency is pausing leases for five offshore wind farms "due to national security concerns."
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.
A bill that would reverse a 25% tax increase on California's legal cannabis industry is heading to Gov. Gavin Newsom's desk, after being approved by the legislature.
Meal kit delivery firm HelloFresh will pay $7.5 million to settle a lawsuit accusing it of misleading customers and making it difficult for them to cancel their subscriptions.
With the help of her daughter and her 5th-grade class, CBS News California (KCAL) Investigative reporter Julie Watts investigates "Sephora Kids" concerns.
A Southern California man has pleaded guilty for his role in a scheme that stole more than $2 million from San Francisco-based food delivery company DoorDash, federal prosecutors said.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
"I don't know how I'm going to pay for this," said one person with an Affordable Care Act plan that will cost her $1,100 a month starting in January.
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.
In an interview with CBS News, FDA Commissioner Dr. Marty Makary explains what went into the decision to drop the most serious warnings on hormone therapy for menopause.
At least 11 people have contracted Salmonella linked to powder supplements sold at Sam's Club stores nationwide, health authorities said.
About 30% of San Francisco was without power at the height of the outage, according to utility provider PG&E.
The DMV said it is giving Tesla Motors 60 days to address its misleading use of "autopilot," or it could have its dealer license temporarily suspended.
California is set to join a growing list of states banning the practice of cat declawing, under a new law taking effect in January.
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.
Waymo has begun offering autonomous robotaxi service using freeways for the first time in select cities in California and Arizona, the company announced.
Jason Robertson had two goals and an assist, and the Dallas Stars beat the Anaheim Ducks 8-3 for their third straight win.
James Harden had 34 points, Brook Lopez scored 31 points, including a career-high nine 3-pointers, and the Los Angeles Clippers beat the Portland Trail Blazers 119-103 for their third straight win.
Austin Reaves could miss at least a month with a strained left calf, a damaging blow for the struggling Los Angeles Lakers.
Amen Thompson scored 26 points and Kevin Durant added 24 to lead the Houston Rockets in a 119-96 victory over the Los Angeles Lakers.
Jordan Eberle had a power-play goal, Frederick Gaudreau and Ben Meyers also scored, and the Seattle Kraken held on for a 3-2 win over the Los Angeles Kings.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
Feeding America's CEO said the organization is "incredibly grateful" for Taylor Swift's large donation.
Vince Zampella, a video game developer known for pioneering iconic franchises like "Call of Duty," died in a car crash on the Angeles Crest Highway in Los Angeles County on Sunday afternoon.
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
The Southern California rainstorm is over. Here's what's coming next. Alex Biston reports.
Though the driver continued fleeing, SkyCal was unable to continue the pursuit due to lingering storm clouds from a powerful rainstorm. The pursuit was heading eastbound on the 210 Freeway at that time.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
Tom Wait reports from Ventura, where the backyard of one home all but disappeared when storm runoff caused a sinkhole to open up on Friday.
Hunter Sowards reports from Boyle Heights, where several businesses were damaged on Christmas Day after an EF0 tornado touched down, bringing winds reaching up to 80 miles per hour to the area.
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.
Several people have been injured and multiple homes burned after the Mountain Fire broke out Wednesday morning in Ventura County, burning over 10,000 acres within hours.
