Fed hikes interest rates to highest level in more than 20 years
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
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Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
Fuel prices were about a dollar higher at this time in 2022.
The bill passed 103-100 with most Democrats voting for it and two Republicans joining them.
Both measures, which were backed by every Democrat and a handful of Republicans, would annually adjust the fees with inflation. The legislation now goes on to the Republican-controlled Senate.
The Federal Reserve is hitting the pause button on interest rates, thanks in part, to the latest inflation numbers from May. Jessica Kartalija reports. READ MORE: https://cbsloc.al/3qGC22S
The last few years inflation has forced many backyard chefs to cut back or spend more on their holiday menus.
Dan Snyder reports.
President Joe Biden and his administration have been searching for ways he might act unilaterally to avoid an economic "calamity" if Congress can't reach agreement to allow more federal borrowing.
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
Coffee chain says the charge is necessary because the cold juice drinks are more expensive to make when not diluted.
Prices rose at the slowest rate in two years amid the Federal Reserve's ongoing series of interest rate hikes.
Grocery costs are rising at a slower pace, with some food items actually dipping.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
The emergency funds added to the Supplemental Nutrition Assistance Program are coming to an end Wednesday.
Wakisha Bailey reports.
CBS News correspondent Michael George reports from New York.
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
For instance, a $25 bottle of wine will now cost you $26.
As some inflation-hiked items costs have started to fall, eggs are one item where prices have remained high.
Marcella Baietto reports.
Prices are higher than they were last year, but fell 0.1% between November and December.
Higher prices are also making up for the fact that people are generally buying less beer, insiders say.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Sunday's win at Aronimink Golf Club in Newtown Square, Pennsylvania, is only his second PGA tour victory, after winning the 2024 Wyndham Championship.
A driver was taken to the hospital after crashing into a Family Dollar store on Sunday in Northeast Philadelphia, police said.
Bryce Harper hit a home run off ace Paul Skenes to lead the Phillies to a 6-0 win over the Pirates and a sweep of the three-game series.
The historic Mother African Union Church in Wilmington, Delaware, was destroyed in a fire early Sunday morning.
Two people died after their car was hit in Philadelphia's Juniata Park section late Saturday night.
Sunday's win at Aronimink Golf Club in Newtown Square, Pennsylvania, is only his second PGA tour victory, after winning the 2024 Wyndham Championship.
About 100 officers responded to the King of Prussia Mall on Saturday after a crowd tried to enter the mall and the Swatch store.
A driver was taken to the hospital after crashing into a Family Dollar store on Sunday in Northeast Philadelphia, police said.
Bryce Harper hit a home run off ace Paul Skenes to lead the Phillies to a 6-0 win over the Pirates and a sweep of the three-game series.
The historic Mother African Union Church in Wilmington, Delaware, was destroyed in a fire early Sunday morning.
A driver was taken to the hospital after crashing into a Family Dollar store on Sunday in Northeast Philadelphia, police said.
Two people died after their car was hit in Philadelphia's Juniata Park section late Saturday night.
Dozens of people gathered for the 2nd annual Delaware County Asian American, Native Hawaiian and Pacific Islander Heritage Month Festival.
The PGA Championship has bumped up its prize fund by $1.5 million.
About 100 officers responded to the King of Prussia Mall on Saturday after a crowd tried to enter the mall and the Swatch store.
Thousands of people across the country came together Saturday to remember the lives of Johnny and Matthew Gaudreau.
The PrideFest parade Saturday will cross state lines, starting in Lambertville and ending in New Hope, where a full festival celebrates the reason for the season.
A recent college graduate in New Jersey is warning others to look for these red flags after she received a fake job offer.
As the Delaware Valley happily leaves a snowy winter behind, many can hardly wait to hit the Jersey Shore for Memorial Day weekend.
For the first time ever, the World Cup final will host a Super Bowl-style halftime show, with megawatt headliners Madonna, Shakira and BTS.
A Delaware man is in custody after he barricaded himself and started a fire inside a Wawa store on Limestone Road, police say.
A New Castle County, Delaware, refinery is starting repairs that could increase its sulfur dioxide emissions levels past permitted limits.
At 108 years old, Susan Young Browne still exercises, drives and visits the Dover, Delaware, senior center she's been a member of for more than 50 years.
Delaware State University students are taking off from Chandelle Airport in Dover as they work to become future Army aviators.
Crews were called out to the 2000 block of North Harrison Street for a reported blaze at a three-story building.
NAMI Montgomery County is hosting a mental health awareness and fundraising walk for the organization's free mental health programs.
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
Doctors in New Jersey say an illness known as CHS that affects cannabis users is on the rise.
An American on the repatriation flight began showing symptoms of hantavirus and another "tested mildly PCR positive for the Andes virus," the Department of Health and Human Services says.
More than 100 people from a cruise ship dealing with an outbreak of the rare and deadly hantavirus are set to be disembarked.
The 2026 PGA Championship at Aronimink Golf Club is a huge boost for Pottstown, Pennsylvania-based Lessen the Loads.
Bars and restaurants in Newtown Square are gearing up for an influx of customers as the 2026 PGA Championship is here.
If you dine out in Philadelphia during the 2026 FIFA World Cup events, you could end up paying more.
Bimbo Bakeries USA employs over 20,000 people and has been headquartered in Horsham, Pennsylvania, for the past 17 years.
Photos by HughE Dillon
A Delaware woman died in a multi-vehicle crash on I-95 in South Philadelphia Tuesday night while her 4-year-old daughter was in the backseat, state police said.
A serious crash in Hainesport, New Jersey, forced Route 38 to close Thursday night.
The ramp from Front Street to northbound I-95 and the ramp from southbound I-95 to Front Street will reopen the afternoon of May 8 until the morning of May 11.
Breeze Airways launched its first flights out of Atlantic City International Airport just days after Spirit Airlines shut down suddenly.
The sudden shutdown of Spirit Airlines is having an outsized impact on Atlantic City International Airport, where the budget carrier accounted for about 75% of all flights.
Sunday's win at Aronimink Golf Club in Newtown Square, Pennsylvania, is only his second PGA tour victory, after winning the 2024 Wyndham Championship.
Bryce Harper hit a home run off ace Paul Skenes to lead the Phillies to a 6-0 win over the Pirates and a sweep of the three-game series.
Alex Smalley has a two-shot lead in the PGA Championship.
Cristopher Sánchez struck out a career-high 13 and earned his second career shutout as the Philadelphia Phillies blanked the Pittsburgh Pirates 6-0.
The PGA Championship has bumped up its prize fund by $1.5 million.
Uzo Aduba and Darren Criss announced the 2026 Tony nominees for select categories on "CBS Mornings" on Tuesday.
If you dine out in Philadelphia during the 2026 FIFA World Cup events, you could end up paying more.
Call Your Mother, a Washington D.C. based bagel and deli chain, now has the keys to Metropolitan's Rittenhouse Square location.
The Philadelphia Museum of Art is embracing a statue it once kept at arm's length.
The "Dog Days Are Over" for the Flyers, but their return to the playoffs comes at the cost of the Florence + the Machine concert.
Ukee Washington reports.
Natasha Brown reports.
Natasha Brown reports.
Natasha Brown reports.
Ukee Washington reports.
Middle school students in Philadelphia got the opportunity to do hands-on learning during the school district's five-day career and technical camp.
With her Girl Talk mentoring program, one Philadelphia teen turned her camp days into a safe space to discuss social issues young girls face every day.
Recent high school graduate Sylvain Farrell says his temporary position at a local clinic is the pathway to a full-time career.
A Philadelphia student won an award from NFL Films for his documentary on bringing back sports teams at his Kensington school.
A group of East Norriton eighth graders took what started as an Earth Day project and made a whole initiative.
Andrew Kozak has the latest NEXT Weather forecast for the Philadelphia region on a warm Sunday night.
The crash in Middlesex County, New Jersey, closed I-287, and more than 150 firefighters responded to the scene.
The car was "driven entirely" into the store on the 600 block of Foulkrod Street, according to Philadelphia police.
The historic Mother African Union Church in Wilmington was destroyed in a fire early Sunday morning.
United States military personnel were honored at Day 3 of the PGA Championship on Armed Forces Day. A ceremony was held before players teed off that included a military flyover at Aronimink Golf Club.