Inflation is cooling, but most Americans say they haven't noticed
About 60% of American workers say their income has lagged inflation over the past 12 months, survey shows.
Watch CBS News
About 60% of American workers say their income has lagged inflation over the past 12 months, survey shows.
President Joe Biden has made America's case to CEOs attending the Asia-Pacific summit in San Francisco that the United States is committed to high standards in trade that will benefit economies across the Pacific.
Prices across the U.S. rose 3.2% compared with a year earlier, slightly below economists' forecasts.
About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.
Spending at US retailers continued to grow last month, a fresh sign that American shoppers aren't tapping out just yet.
The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates.
The price per box is increasing to $6, up from $5 last year, in select parts of the US.
The 2024 inflation adjustment won't be as large as last year's hike. That means some older Americans could lose ground.
Despite uptick in prices, Wall Street analysts still expect inflation to continue easing over the coming months.
Child poverty in the United States more than doubled and median household income declined last year when coronavirus pandemic-era government benefits expired and inflation kept rising.
Stocks are holding on to gains after Federal Reserve Chair Jerome Powell said more rate hikes could be on the way.
The largest drop in pessimism about the economy since summer 2022 has come from Republicans.
Strong consumer demand for SUVs and trucks has left few options for price-conscious vehicle buyers.
Officials want more data to be confident that inflation is abating, according to the minutes of their July 25-26 meeting.
For the first time in the U.S., credit card debt has surpassed $1 trillion.
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Health insurance premiums on Covered California will increase an average of 9.6% next year.
Sales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines.
Cooling price growth in food, rent and energy mean that workers' pay is finally beating inflation.
The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
Although policymakers kept rates steady last month, some Fed officials wanted to keep raising them.
The Placer County Fair is officially underway celebrating its 85th year. But as the rides go up, are prices to get in going up as well?
Even so, the latest "report contains plenty of pain, especially for lower-income Americans," said one economist.
Hotter, drier weather is already wreaking havoc on European crops, and is predicted to boost food prices in the U.S.
