Here's what the latest inflation report means for your money
The most recent inflation data could impact everything from your mortgage to Social Security benefits.
Inflation
Data shows U.S. inflation slowing down
Inflation may be continuing to ease in the U.S., according to new data released Wednesday by the U.S. Bureau of Labor Statistics. Lori Bettinger, president of BancAlliance, joined CBS News to discuss the numbers and what they might mean for future interest rate hikes.
Some grocery products getting more expensive
The inflation rate for food finally began to drop last August, but despite the overall trend, not everything on the shelves is seeing a price drop. Some items, known as "center store" products, have become more expensive. Jesse Newman, a reporter who covers food and agriculture for the Wall Street Journal, joined CBS News to talk about why those products are getting pricier.
Inflation is plunging, but not for residents of this Southern state
Prices remain stubbornly high in one part of the country, driven by high housing costs and an influx of new residents.
What the jobs report means for interest rates
Job creation slowed down last month, but Friday's jobs report still outperformed some economists' expectations. Javier David, managing editor for business and markets for Axios, joined CBS News to discuss what the numbers might mean for interest rate changes from the Federal Reserve.
Biden says his economic plans help red states
President Biden touted his economic agenda during a speech in South Carolina on Thursday. The president criticized Republican lawmakers for voting against the Inflation Reduction Act, while pointing out those measures are leading to job increases in red states. CBS News senior White House correspondent Weijia Jiang joins "America Decides" to discuss how the president is framing his economic policies to voters.
After brief pause, Fed looks poised to raise interest rates again
Although policymakers kept rates steady last month, some Fed officials wanted to keep raising them.
Prices, spending eased in May, data shows
New economic indicators closely watched by the Federal Reserve suggest an expected interest rate hike in July may not be locked in after all. The personal consumption expenditures index shows prices easing slightly for the month of May as consumer spending begins to slow. New York Times business reporter Jordyn Holman joined CBS News with more.
Top White House adviser maps out Biden's economic agenda
Jared Bernstein, Council of Economic Advisers chairman, joins CBS News' chief election & campaign correspondent Robert Costa to discuss President Biden's new economic plan, which Mr. Biden unveiled Wednesday in Chicago.
Biden unveils new economic plan
President Biden has unveiled his new plan for the U.S. economy. During a speech in Chicago, he touted growing the economy by focusing on expanding the middle class. CBS News White House reporter Bo Erickson has more.
Cheaper chicken, gas: Some prices are easing this July Fourth
Cookout costs will vary, but Americans hitting the road are about to save $2.6 billion on gas this holiday weekend over last year.
Biden touts economic record in Chicago, hoping to convince skeptical public
President Biden had a tough sell Wednesday, trying to convince voters that the U.S. economy is flourishing.
Funflation? Summer spending driving up prices
Central banks on both sides of the Atlantic say more interest rate hikes are likely this fall as they grapple with stubborn inflation. And economists say consumers are still spending money on fun experiences this summer, driving prices even higher. Bernhard Warner, senior editor for The New York Times' Dealbook, joins CBS News with more.
Brides turn to secondhand dresses as inflation drives up wedding costs
A growing number of brides across the country are finding bliss in pre-loved wedding dresses.
In some U.S. cities the war on inflation is already won
In some areas inflation has fallen below 2%, while in other regions prices are still spiraling upward. Why?
How "revenge spending" led to price hikes
Economists say the U.S. witnessed two years of so-called "revenge spending" following the COVID-19 lockdowns. But this summer could mark a shift back to normal spending habits, which could help ease inflation. Jeanna Smialek, a federal reserve and economy reporter for the New York Times, joined CBS News to talk about the trend.
Europe's economy grew in 2023 first quarter
The European Union registered a slender growth of 0.3% while the Eurozone, countries which use the Euro currency, grew by 0.1% in the first quarter of 2023. Although the European Union avoided a recession, inflation remains high. Brendan McKenna, an international economist for Wells Fargo, joined Anne-Marie Green on CBS News Mornings to discuss the latest.
Americans continue spending as inflation cools
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.
Economy sends mixed signals
For the first time in 15 months, the Fed paused hikes in interest rates as inflation has started to wane — although it remains high. Mark Strassmann reports.
Drivers see some relief at the pump this summer
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.
Wedding costs are rising. Here's how to tie the knot on a budget.
Skyrocketing inflation is driving up the price of venues, catering and flowers — but there are ways to trim costs.
Beyoncé concerts blamed for Swedish inflation
In May, Sweden reported an inflation rate of 9.7%, and analysts say about 0.2% of that was due to Beyoncé starting her "Renaissance" world tour in Stockholm. The concerts sparked a frenzy that drove demand for hotels and restaurants, making prices soar to new highs.
Closer look at inflation and interest rate
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
Beyoncé single-handedly raised a country's inflation
Sweden sees 0.2% "Beyoncé blip" in inflation as fans flock to Stockholm for singer's World Renaissance Tour.
Federal Reserve pauses interest rate hikes
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
Live
Rubio says Iran imposing tolls on Strait of Hormuz "not acceptable"
The Secretary of State tempered optimism for a deal to end the Iran war, calling Iran's bid to "create a tolling system" in the Strait of Hormuz "not acceptable."
GOP senators press Blanche on "anti-weaponization fund" in tense meeting
Some Republican senators openly expressed their concerns about the Justice Department's new "anti-weaponization fund" in a tense meeting Thursday with Acting Attorney General Todd Blanche.
Pentagon releases more UFO files: "Speechless after these observations"
The Pentagon on Friday released a new batch of 64 files related to UFOs, unveiling a second tranche of records under an executive order by President Trump.
Stephen Colbert says farewell to "The Late Show" in heartfelt finale
Stephen Colbert hosted "The Late Show" for the final time Thursday night as the franchise came to an end after 33 years.
Jimmie Johnson reacts to Kyle Busch's death: "Lost for words"
Kyle Busch, 41, died suddenly on Thursday after being hospitalized with an illness, according to his team.
Britney Spears argued with police during DUI arrest, footage shows
Pop star Britney Spears said she was "totally fine" to drive and had not had a drink for about six hours when she was pulled over by the California Highway Patrol.
NATO allies welcome Trump's turnaround on Poland troop deployment
Trump says 5,000 U.S. troops will head for Poland, a week after the White House said a planned deployment of 4,000 was being nixed.
Epstein island trespasser says he was hog-tied, thrown into "dungeon"
Little St. James in the Virgin Islands has attracted seekers lured by tales of Jeffrey Epstein's private island.
Several people watched San Diego attack live on video calls, recordings show
At least three people watched a livestream as gunmen filmed their deadly attack at the Islamic Center of San Diego on Monday. One viewer urged another to alert law enforcement, but it is not clear if anyone did.
U.S.
More U.S.
Britney Spears argued with police during DUI arrest, footage shows
Pop star Britney Spears said she was "totally fine" to drive and had not had a drink for about six hours when she was pulled over by the California Highway Patrol.
Jimmie Johnson reacts to Kyle Busch's death: "Lost for words"
Kyle Busch, 41, died suddenly on Thursday after being hospitalized with an illness, according to his team.
Pentagon releases more UFO files: "Speechless after these observations"
The Pentagon on Friday released a new batch of 64 files related to UFOs, unveiling a second tranche of records under an executive order by President Trump.
Inside the Congressional Record: How history gets made as D.C. sleeps
The production of the Congressional Record is one of the unseen cogs in the congressional machine, arriving with little fanfare like a newspaper on the Capitol's doorstep every day.
CBS News Radio signing off after nearly 100 years: "An American institution"
After nearly a century on the air, CBS News Radio is signing off, with the final reports airing on Friday, May 22.
MoneyWatch
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Why Google's Gemini Spark AI agent could be a game changer
AI tools that autonomously perform tasks for users mark a major step forward from chatbots, according to tech experts.
Consumers are still spending, but cracks are starting to show
Shoppers continue to open their pocketbooks, boosting retailers like Walmart, even as inflation jumps to its highest level in three years.
Summer air travel could be rough. Here's how travelers can prepare.
A new report finds that on-time flight arrivals are at their worst level since 2014, with fuel costs and weather adding to summer travel risks.
Record 274 climbers scale Nepal's side of Mount Everest in single day
A record 274 climbers scaled the Nepal side of Mount Everest in a single day, officials said. They took advantage of clear weather.
World Cup expected to generate more in sports bets than the Super Bowl
Americans are expected to wager more than $3 billion amid the expansion of legalized sports betting in the U.S.
Politics
More Politics
Pentagon releases more UFO files: "Speechless after these observations"
The Pentagon on Friday released a new batch of 64 files related to UFOs, unveiling a second tranche of records under an executive order by President Trump.
Primary fight in key California district highlights questions about Democrats' future
The latest fight over the Democratic Party's direction is playing out in a competitive California House primary, as progressives accuse party leaders of trying to muscle a moderate past a Latino challenger in a heavily Hispanic district.
Inside the Congressional Record: How history gets made as D.C. sleeps
The production of the Congressional Record is one of the unseen cogs in the congressional machine, arriving with little fanfare like a newspaper on the Capitol's doorstep every day.
First on CBS
New site aims to track $12.5B in air traffic control system upgrades
The Department of Transportation is rolling out a new website to track progress in the sprawling effort to modernize the nation's air traffic control system.
House GOP pulls Iran war resolution that appeared to have enough support to pass
Republicans are struggling to find the votes to dismiss legislation that would compel President Trump to withdraw from the war with Iran.
HealthWatch
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Ebola "spreading rapidly" in the Congo with national risk "very high"
The head of the World Health Organization says Ebola has killed at least 7 people in Congo, but the U.N. agency says it knows the epidemic "is much larger."
New weight-loss drug Retatrutide in trials
A new weight-loss drug, so new it is not on the market yet, is showing promising results in trials, doing much more than what current medications can. Dr. Jon LaPook breaks it down.
U.S. steps up Ebola prevention efforts
The U.S. is stepping up efforts to prevent Ebola from entering the country through its airports, with one flight diverted to Canada on Wednesday evening. Ian Lee reports from Detroit.
U.S. doctor with Ebola feared he "wasn't going to make it" before evacuation
Dr. Peter Stafford was working with the missionary group Serge in Congo when he was infected with Ebola.
Is "fibermaxxing" good for your health?
Health and fitness influencers are pushing people to consume more fiber. Keri Glassman, Nutritious Life founder and CEO, joins with her take.
World
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NATO allies welcome Trump's turnaround on Poland troop deployment
Trump says 5,000 U.S. troops will head for Poland, a week after the White House said a planned deployment of 4,000 was being nixed.
Ebola "spreading rapidly" in the Congo with national risk "very high"
The head of the World Health Organization says Ebola has killed at least 7 people in Congo, but the U.N. agency says it knows the epidemic "is much larger."
2 climbers die on Everest as record-holder warns of overcrowding
At least five climbers have died during this Everest season. A U.S. and a Czech climber died on Mount Makalu earlier this month.
Body found stuffed in barrel linked to Belgrade police chief
Police found the body of a man stuffed in a barrel following a shooting in a restaurant that led to the arrest of Belgrade's police chief, prosecutors said.
Live
Rubio says Iran imposing tolls on Strait of Hormuz "not acceptable"
The Secretary of State tempered optimism for a deal to end the Iran war, calling Iran's bid to "create a tolling system" in the Strait of Hormuz "not acceptable."
Entertainment
More Entertainment
Britney Spears argued with police during DUI arrest, footage shows
Pop star Britney Spears said she was "totally fine" to drive and had not had a drink for about six hours when she was pulled over by the California Highway Patrol.
"The Late Show" ends after 33 years on TV
Stephen Colbert signed off from "The Late Show" on Thursday night, ushering in a new era following its legendary 33-year run. Writer Mark Malkoff joins CBS News with more.
CBS News Radio signing off after nearly 100 years: "An American institution"
After nearly a century on the air, CBS News Radio is signing off, with the final reports airing on Friday, May 22.
Stephen Colbert says farewell to "The Late Show" in heartfelt finale
Stephen Colbert hosted "The Late Show" for the final time Thursday night as the franchise came to an end after 33 years.
All 24 "Survivor 50" castaways discuss season
Throughout the airing of "Survivor 50," castaways joined "CBS Mornings" to discuss their time on the show. In this marathon, relive the twists and turns and hear from all 24 contestants about what it was like to be a part of the 50th season.
Technology
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Technology
Ring founder on the Fire Watch feature
As thousands evacuate their homes in Southern California to flee the Sandy Fire, Ring doorbell and security cameras are helping residents and emergency crews stay informed and stay safe. Ring founder Jamie Siminoff joins CBS News to discuss the Fire Watch feature.
Stanford student on how AI impacted his class
A recent opinion piece in The New York Times spotlighted the impact of artificial intelligence on the 2026 graduating class at one of the world's most prestigious universities. The author, Stanford student Theo Baker, joins to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Why Google's Gemini Spark AI agent could be a game changer
AI tools that autonomously perform tasks for users mark a major step forward from chatbots, according to tech experts.
Trump postponing AI executive order "because I didn't like what I was seeing"
President Trump said he doesn't want to "do anything that's going to get in the way" of leading the world on the technology.
Science
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Atlantic hurricane season is coming up. Here's what NOAA predicts.
The 2026 Atlantic hurricane season is quickly approaching, and the National Oceanic and Atmospheric Administration is releasing its forecast for what to expect.
2 humpback whales swam record-breaking distance, photos reveal
The pictures represent the longest-distance ever seen between two pictures of the same humpback whale, researchers said.
Live chicks hatched from artificial eggshell, biotech company says
Independent scientists say the technology, while impressive, lacks some components to be truly considered an artificial egg.
El Niño could bring "double whammy" of high tide flooding, NOAA warns
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
New dinosaur weighing as much as 9 elephants identified by scientists
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
Crime
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Britney Spears argued with police during DUI arrest, footage shows
Pop star Britney Spears said she was "totally fine" to drive and had not had a drink for about six hours when she was pulled over by the California Highway Patrol.
Jurors in Kouri Richins trial speak out
Utah mom and author Kouri Richins was sentenced last week to life in prison without the possibility of parole for the 2022 murder of her husband. Richins has maintained her innocence. In a new episode of "48 Hours," two jurors discuss the key evidence that led them to convict Richins. Natalie Morales reports.
Charges dropped in teacher's shooting
A Virginia judge dropped neglect charges against a school administrator after a teacher claimed she had been warned about a student before a shooting occurred. Shanelle Kaul reports.
Body found stuffed in barrel linked to Belgrade police chief
Police found the body of a man stuffed in a barrel following a shooting in a restaurant that led to the arrest of Belgrade's police chief, prosecutors said.
Several people watched San Diego attack live on video calls, recordings show
At least three people watched a livestream as gunmen filmed their deadly attack at the Islamic Center of San Diego on Monday. One viewer urged another to alert law enforcement, but it is not clear if anyone did.
Space
More Space
SpaceX launch of more powerful Super Heavy-Starship rocket scrubbed at last minute
The new rocket features a host of upgrades intended to improve safety and performance of the world's most powerful rocket.
SpaceX to explore "the true nature of the universe" as it plans IPO
Elon Musk's SpaceX is moving ahead with plans to go public in what some expect will be the biggest IPO ever.
SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
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Who is Alix Tichelman?
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Latest CBS News Videos
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Latest CBS News Videos
Cardinal Michael Czerny on Pope Leo
Cardinal Michael Czerny speaks with Norah O'Donnell about the election of Pope Leo, the political role of the Catholic Church and the challenge of artificial intelligence.
Sponsored
New miniseries "Life is Better with Dogs"
The Oprah Podcast and The Farmer's Dog partnered for a new miniseries, "Life is Better with Dogs," which highlights the bond between dogs and their owners. The Farmer's Dog co-founder and CEO, Jonathan Regev, shares more and discusses how his dog, Buddy, has impacted his life. (Sponsored by The Farmer's Dog)
Jurors in Kouri Richins trial speak out
Utah mom and author Kouri Richins was sentenced last week to life in prison without the possibility of parole for the 2022 murder of her husband. Richins has maintained her innocence. In a new episode of "48 Hours," two jurors discuss the key evidence that led them to convict Richins. Natalie Morales reports.
Charges dropped in teacher's shooting
A Virginia judge dropped neglect charges against a school administrator after a teacher claimed she had been warned about a student before a shooting occurred. Shanelle Kaul reports.
"The Late Show" ends after 33 years on TV
Stephen Colbert signed off from "The Late Show" on Thursday night, ushering in a new era following its legendary 33-year run. Writer Mark Malkoff joins CBS News with more.