Inflation cooled in June to slowest pace in more than 2 years
The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
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The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
Though still high, the price of gas is down significantly from what it was a year ago. The national average for a gallon of regular Saturday was $3.58, according to AAA. This time last year, it was more than $5. Michael George has more.
With inflation finally falling from last year's record highs, the Federal Reserve declined to raise key interest rates for the first time in 15 months. Natalie Brand reports on how the move will affect consumers and whether we could see more rate hikes in the future.
Hotter, drier weather is already wreaking havoc on European crops, and is predicted to boost food prices in the U.S.
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
"Americans can feel confident that their deposits will be there when they need them," the treasury secretary is expected to tell Congress Thursday.
Mark Lehmann, CEO of JMP Securities, a Citizens Company, joined CBS News on Friday to discuss the state of the tech industry and the U.S. economy after the closing bell on Wall Street.
Dow falls more than 600 points, while sharp drop wipes out S&P 500's gains from last week.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
Wall Street loses its gains from the last two days, as reports show better-than-expected data on economy.
The central bank signaled rates will likely remain higher over the coming few years than it had previously anticipated.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
From Christmas trees to gifts, the holidays are not immune to rising inflation. Scott McFarlane reports. (12/12/22)
Kenny Choi reports on regular thrift store shoppers looking to save money as online holiday sales ramp up (11-28-2022)
Mazzetti's Bakery in Pacifica has been a staple in the community for almost 50 years, and for Rudy and Julie Mazzetti, everyone who walks in that door are more than just customers – they're family.
Max Darrow reports on how the San Jose State University's Spartan Food Pantry helps students make ends meet (11-23-2022)
Michael George reports on the higher cost anticipated by many for this year's Thanksgiving feast (11-16-2022)
Turkey prices are soaring and some are starting to think twice about serving a traditional Thanksgiving meal.
Turkey prices are soaring and some are starting to think twice about serving a traditional Thanksgiving meal. Andrea Nakano reports. (11-11-22)
Investors cheered after U.S. consumer prices fell last month more than Wall Street expected.
The 10 most popular candy brands have seen an average price increase of 13% since 2021, according to Datasembly.
In what sounds like an instance of NASA-level spending, the city of San Francisco is budgeting $1.7M for a single public toilet in the Noe Valley neighborhood.
