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.
Inflation
Inflation drops to its lowest rate in 2 years
The Labor Department reported Wednesday that the Consumer Price Index dropped to an annual growth rate of 3% in June, the lowest inflation has been since early 2021.
Americans don't feel financially secure: Poll
According to a survey by Bankrate, some Americans say they need to earn about $233,000 a year in order to feel financially secure and nearly $483,000 a year to achieve financial freedom. Sarah Foster, an analyst for Bankrate, joined CBS News to talk about the findings.
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.
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.
Jane Doe's attorney says "she was incapable of consent," alleges cover-up
Christa Pike critically ill, intubated after botched execution, attorneys say
More details emerge about FlyDubai co-pilot who tried to crash plane
Live
Trump vows Iran war to end "very quickly" as more troops head to Mideast
Judge says federal law banning noncitizen voting is unconstitutional
Professor to present findings questioning whether Epstein killed himself
Trump says Europe will release "massive amount" of diesel oil from stockpiles
Photo of Jane Doe shared in Snapchat group on night of alleged rape
