"Shrinkflation": Consumers getting less for their money
Consumers are getting less for their money as products get smaller and prices stay the same. Carter Evans has more on "shrinkflation."
Inflation
U.S. inflation hits 41-year high
Inflation surged to a 41-year high, with the Consumer Price Index showing Americans paid more last month for just about every necessity from gas prices to rent. Nancy Chen takes a look.
Fed rate hikes hurting would-be home buyers
The Fed has tried to ease inflation by raising interest rates, but that move is also shutting some would-be home buyers out of the housing market. New York Times Federal Reserve and economy reporter Jeanna Smialek explains how the Fed's actions are putting more pressure on renters.
CPI report shows inflation rose 9.1% in June
The U.S. Department of Labor's latest CPI report shows prices in June rose 9.1% from last year, marking the largest year-over-year increase since 1981. CBS News' Sarah Ewall-Wice shares more about what this could mean for the economy.
Republicans criticize Biden amid inflation
Republicans criticized President Joe Biden after new data revealed that inflation surged to a 41-year high last month. CBS News' Tanya Rivero and Elaine Quijano assess the current state of the U.S. economy with reporter Sarah Ewall-Wice.
U.S. inflation hits new 40-year high
Across the board, Americans are paying more for everything, including housing, groceries and gas, according to new government data. CBS News' Tanya Rivero and Elaine Quijano spoke with Wall Street Journal economics reporter Gwynn Guilford about the state of the economy and how the Federal Reserve may react.
Social Security checks could get a 10.5% bump due to inflation
June inflation was higher than expected, at 9.1%. That could set up seniors for the biggest payment boost since 1981.
Tips to prepare for a possible recession
With inflation at a 40-year high, and the Federal Reserve raising interest rates, many financial experts warn of an economic slowdown. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss how to protect your finances during this uncertain time.
June Consumer Price Index to be released
June may have been an even hotter month for inflation than in previous months. Inflation could rise again in the latest CPI report, but economists say it might begin to cool off. President of Sevens Report Research Tom Essay joins CBS News Mornings to talk about what to expect.
War in Ukraine rages on as global crisis worsens
The war in Ukraine is having a major impact on food and fuel supplies worldwide. William Taylor, former U.S. ambassador to Ukraine, joined John Dickerson to discuss the situation.
How to save despite economic uncertainty
CBS News business analyst Jill Schlesinger joined Anne-Marie Green and Vladimir Duthiers to discuss the ongoing recession fears amid a strong job market and offered tips on how to save money despite economic uncertainty.
Prices of essential items continue to surge
Americans are seeing a significant price increase for essential items, hitting a 40-year high. Sarah Foster, an analyst for Bankrate.com, joins "CBS News Mornings" to discuss how Americans can combat the rise in the cost of goods.
8 in 10 travelers experienced travel problems this year, survey finds
The findings come as Americans continue to struggle with higher inflation.
Are corporate profits driving inflation?
There are two commonly-accepted aspects of economics that determine prices: supply and demand. But some say a third factor is companies' pursuit of increased profits in the midst of supply-and-demand chaos stirred by war and pandemic. Correspondent David Pogue talks with former Treasury Secretary Larry Summers, former Labor Secretary Robert Reich, and economist Mike Konczal about the legitimacy of corporate avarice
"Greedflation": Is corporate profit-taking driving prices higher?
Two commonly-accepted aspects of economics that determine prices are supply and demand. But some say a third factor is companies exploiting our present chaos, stirred by war and pandemic, in the pursuit of increased profits.
Britain feels the impact of record inflation
Britain's inflation rate hit a new 40-year high of 9.1%.
Inflation rates climb across the globe
The United States isn’t the only country seeing inflation rates soar. In Britain, costs have increased up to 25 to 30%, sending shockwaves throughout industries. Roxana Saberi has more.
Mick Mulvaney weighs in on the U.S. economy
Mick Mulvaney, former acting White House chief of staff, spoke to CBS News’ Catherine Herridge about the current state of the U.S. economy and why he believes a recession is "inevitable."
Hiring remains strong despite Fed interest rate hikes
U.S. employers added 372,000 jobs, the Labor Department reported Friday, greatly surpassing what economists had expected. Akin Oyedele, investing deputy editor for Business Insider, joins Catherine Herridge to discuss what these numbers could mean.
Las Vegas home prices drop for first time in 2 years
Home prices in Las Vegas have dropped for the first time in over two years. According to the Las Vegas Review Journal, increasing mortgage rates and decreasing home sales are causing the trend. Eli Segall, a real estate reporter for the Las Vegas Review Journal, joins CBS News' Jamie Yuccas to discuss.
Inflation causing housing affordability crisis
Rrecord-high inflation is making homelessness worse across the U.S., according to a report from the Washington Post. Rachel Siegel co-authored that article and joins Lana Zak on CBS News to discuss.
7/6: Red and Blue
Pat Cipollone to testify before Jan. 6 committee; Labor Dept. reports job openings near record high
Concerns linger on gas prices and inflation
Financial Times U.S. economics editor Colby Smith joins "Red and Blue" to break down what natural gas prices skyrocketing in Europe mean for the U.S., where gas prices may go next, and how worried people should be about inflation.
Fed says sharply higher interest rates may be needed
Fed officials were concerned at last month's meeting that consumers were starting to expect higher inflation in a self-perpetuating cycle.
Stocks rise after Fed admits more rate hikes could weaken economy
Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
Live
Trump reverses course on 20% fee for Strait of Hormuz cargo
Trump said Tuesday he "decided to replace" a 20% fee on shipping through the Strait of Hormuz, which he announced a day before, with trade and investment deals from Gulf states.
ICE halts most vehicle stops following deadly shootings, sources say
Neither of the victims of the ICE shootings in Maine or Texas were the target of enforcement operations, according to the Department of Homeland Security.
E. Jean Carroll receives $5M from Trump in abuse, defamation case
A jury concluded in 2023 that Trump should pay Carroll $5 million in damages.
How Jeffrey Epstein parlayed his elite network into a $25 million payday
Former White House counsel Kathy Ruemmler worked with Epstein on a Swiss bank settlement.
DoD watchdog finds 155mm artillery plant built 2 years ago has produced nothing
An ammunition plant in Mesquite, Texas, has not produced any metal projectile parts after the Army spent $469 million to establish the facility.
Maps show extreme heat and flood threats across U.S.
Much of the U.S. is facing either extreme heat or excessive rainfall and potential flooding on Tuesday. Here's where the greatest threats are expected.
U.S. uses sea drones in combat for first time to attack Iranian port
The U.S. military shared video of what it said was its first use of sea drones in combat, to attack an Iranian submarine and ship maintenance facility.
Folarin Balogun addresses FIFA decision to lift red card suspension
U.S. soccer star Folarin Balogun told "CBS Mornings" he "was in shock" when he received a red card in a World Cup match and discussed FIFA's decision to lift the one-game ban.
Rare T. rex fossil sells for record $50.1 million at auction
The T. rex, nicknamed Gus, is a towering figure, standing at 12.5 feet fall and roughly 38 feet long.
U.S.
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Social Security's 2027 COLA could be the biggest since 2023
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
Trump: FBI shouldn't waste time on "conspiracy theories" in Graham's death
"I don't see a lot of evil there," President Trump said of Sen. Lindsey Graham's sudden death over the weekend.
Blanche set to face harsh questioning at Senate confirmation hearing
Acting Attorney General Todd Blanche will appear Wednesday before the Senate Judiciary Committee for his confirmation hearing to take over the role on a permanent basis.
Rare T. rex fossil sells for record $50.1 million at auction
The T. rex, nicknamed Gus, is a towering figure, standing at 12.5 feet fall and roughly 38 feet long.
Supreme Court pushes Congress for more security: "Threats have come very close"
Supreme Court Justices Elena Kagan and Amy Coney Barrett urged Congress to provide additional funding to enhance protection for the justices as they face a rise in threats.
MoneyWatch
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Social Security's 2027 COLA could be the biggest since 2023
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
Rare T. rex fossil sells for record $50.1 million at auction
The T. rex, nicknamed Gus, is a towering figure, standing at 12.5 feet fall and roughly 38 feet long.
Shippers say Strait of Hormuz fee would open "dangerous Pandora's Box"
Industry insiders say "there is no legal basis" for Trump to impose a 20% fee on cargo transiting the Strait of Hormuz, something he now says he's decided not to do.
United's newest economy upgrade guarantees an empty middle seat
United Airlines has a solution to passengers squabbling over who gets the armrest: empty middle seats.
Warsh vows to tackle inflation in first testimony as Fed chairman
Federal Reserve Chairman Kevin Warsh told the House Financial Services Committee that the central bank has "no tolerance for persistently elevated inflation."
Politics
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Trump: FBI shouldn't waste time on "conspiracy theories" in Graham's death
"I don't see a lot of evil there," President Trump said of Sen. Lindsey Graham's sudden death over the weekend.
Blanche set to face harsh questioning at Senate confirmation hearing
Acting Attorney General Todd Blanche will appear Wednesday before the Senate Judiciary Committee for his confirmation hearing to take over the role on a permanent basis.
Supreme Court pushes Congress for more security: "Threats have come very close"
Supreme Court Justices Elena Kagan and Amy Coney Barrett urged Congress to provide additional funding to enhance protection for the justices as they face a rise in threats.
How Jeffrey Epstein parlayed his elite network into a $25 million payday
Former White House counsel Kathy Ruemmler worked with Epstein on a Swiss bank settlement.
DoD watchdog finds 155mm artillery plant built 2 years ago has produced nothing
An ammunition plant in Mesquite, Texas, has not produced any metal projectile parts after the Army spent $469 million to establish the facility.
HealthWatch
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States call out big businesses with employees on Medicaid
With the federal Medicaid work requirement looming in January, Democrats are considering state legislation to call out big companies that employ workers enrolled in the safety net health program.
Dr. Céline Gounder: Lindsey Graham died of aorta disease. My husband did too.
Lindsey Graham's aorta tore at 71. Grant Wahl's burst at 49. One is common and age-driven; the other is inherited, silent, and findable.
Common knee surgery may do more harm than good, 10-year study shows
A Finnish study followed patients for 10 years after they had a popular knee surgery. For many, the pain continued or even worsened.
New Jersey works to destroy firefighting foam laced with cancer-linked PFAS
New Jersey is one of more than a dozen states that are working to collect, remove and destroy all of their aqueous film-forming foam.
Departments getting rid of firefighting foam
Fire departments across the U.S. are changing how they extinguish fires. For decades, they used foam that contained so-called "forever chemicals" that are now linked to cancer. More than a dozen states are now working to collect, remove and destroy all of it. Mark Strassmann has more.
World
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China rejects report that a U.S. scientist is being wrongfully detained
Asked about the case of U.S. national Youlin Chen, China's foreign ministry said there was no "wrongful detention," but it did not deny the scientist was imprisoned.
Shippers say Strait of Hormuz fee would open "dangerous Pandora's Box"
Industry insiders say "there is no legal basis" for Trump to impose a 20% fee on cargo transiting the Strait of Hormuz, something he now says he's decided not to do.
Man describes harrowing escape from wildfire that killed wife and friends
A last minute decision meant Malcolm Timbrell survived one of Spain's deadliest wildfires ever, but his wife and friends were trapped by a wall of flames.
U.S. uses sea drones in combat for first time to attack Iranian port
The U.S. military shared video of what it said was its first use of sea drones in combat, to attack an Iranian submarine and ship maintenance facility.
Astronomer's name deciphered from ancient Mayan ruins for first time
The name "White-chested Fox" was found in drawings dating from 400 BC to 900 AD at the San Bartolo-Xultun archaeological site.
Entertainment
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Entertainment
Gelfand on "The Real Wolf of Wall Street"
"The Real Wolf of Wall Street," a new documentary from See It Now Studios on Paramount+, focuses on the real-life story of infamous stockbroker Jordan Belfort and his brokerage firm Stratton Oakmont. Howie Gelfand, a former partner at Stratton Oakmont, explains why he decided to be part of the documentary and how the 2013 film, "The Wolf of Wall Street," starring Leonardo DiCaprio, got the real story wrong.
Alan Ritchson on thriller "Motor City"
Alan Ritchson talks about starring in "Motor City," which has nearly no dialogue, how his process was different and why he thinks it will resonate with audiences.
States sue to block Paramount-WBD merger
A coalition of a dozen states on Monday sued to block Paramount Skydance's acquisition of Warner Bros. Discovery, posing a new challenge to the $110 billion deal that would unite two of the nation's largest media companies. Paramount Skydance is the parent company of CBS News. CBS News' Jo Ling Kent reports.
Mick Jagger on music and politics
Mick Jagger spoke with The New York Times recently about the role of politics in his music. Political strategists Erin Maguire and Dan Kanninen join "The Takeout" to discuss.
"Jurassic Park" star dies at 78
Actor Sam Neill, who starred in "Jurassic Park" and "The Piano," died Monday at the age of 78, his family said in a statement. Neill had been battling cancer, but his family said he had beaten it and his death was unexpected.
Technology
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Technology
Apple files lawsuit against OpenAI
Apple is suing OpenAI over apparently stolen trade secrets that may be linked to hardware ambitions. CBS News contributor Patrick McGee joins with more.
New York enacts nation's first statewide moratorium on building new data centers
Building new data centers in New York will be paused for a year in order to allow state officials to establish guidelines protecting residents and the environment, Gov. Kathy Hochul said.
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.
AI companies are creating "generative ghosts" of deceased loved ones
Startups are using emails, photos and voice recordings to create AI simulations that family and friends can interact with after a loved one's death.
Family says they're forced to sell home to help power data centers
Georgia Power says building a new transmission line will require acquiring more than 300 parcels of land, including residential properties.
Science
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Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomer's name deciphered from ancient Mayan ruins for first time
The name "White-chested Fox" was found in drawings dating from 400 BC to 900 AD at the San Bartolo-Xultun archaeological site.
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
2,000-year-old gold rings and human bones found by archaeologists
Archaeologists have discovered eight human skeletons, bronze and gold jewelry and other artifacts indicating a ceremonial burial of wealthy people.
Crime
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Crime
Kagan opening statements on security funding
Supreme Court Justices Elena Kagan and Amy Coney Barrett are on Capitol Hill to testify before House lawmakers in response to a request for increased security funding amid growing threats against members of the highest court.
Second fatal ICE shooting in a week
Joan Sebastian Guerrero's death in Maine marks the second time in a week that Immigration and Customs Enforcement agents have shot and killed a civilian. The Department of Homeland Security alleged that a man "attempted to flee the scene" when stopped by ICE. Guerrero's killing has prompted calls for an investigation. CBS News' Lilia Luciano reports.
Apple files lawsuit against OpenAI
Apple is suing OpenAI over apparently stolen trade secrets that may be linked to hardware ambitions. CBS News contributor Patrick McGee joins with more.
Witnesses on ICE shooting in Maine
Witnesses are describing what they saw during the moments after an Immigration and Customs Enforcement agent fatally shot a man in Maine. One source with knowledge of the investigation says Joan Sebastian Guerrero was killed during the encounter. CBS News' Lilia Luciano reports.
Judge's stunning rebuke of Trump, DOJ
U.S. District Judge Kathleen Williams slammed President Trump, his lawyers, and the Justice Department over a lawsuit against the IRS, saying it was filed for an "improper purpose." CBS News' Katrina Kaufman reports.
Space
More Space
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
Mission launched to rescue a falling space telescope
Katalyst Space's LINK spacecraft is designed to capture and boost NASA's Swift observatory back to a safe altitude.
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
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.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
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?
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Supreme Court asks Congress for security cash
Supreme Court justices Elena Kagan and Amy Coney Barrett testified on Capitol Hill, advocating for the high court to receive a bigger security budget following an increase in security threats. CBS News' Jan Crawford reports.
Trump on 20% Strait of Hormuz fee
President Trump says he changed his mind on a 20% fee he planned to impose on all cargo traversing the Strait of Hormuz. Mr. Trump commented on tensions with Iran as he met with Iraqi Prime Minister Ali al-Zaidi at the White House. CBS News' Aaron Navarro and Courtney Kealy have more.
Fed chair Kevin Warsh testifies
Federal Reserve Chair Kevin Warsh testified on Capitol Hill about the U.S. economic outlook and took questions about fiscal policy. Taurean Small has more after new data shows inflation cooled in June.
Lawmaker on ICE shooting in Maine
Maine House Speaker Ryan Fecteau slammed U.S. Immigration and Customs Enforcement and said his constituents "want ICE out" after an agent fatally shot a 26-year-old man in his car. "We want local and state law enforcement to do the job that they do really well," Fecteau said. CBS News' Lilia Luciano has more on the shooting, and Fecteau joins CBS News 24/7 to talk about the community's reaction.
Trump on FBI probing Lindsey Graham's death
President Trump took questions in the Oval Office and commented on an apparent FBI probe into Lindsey Graham's death, saying he doesn't see a lot of "evil" behind the sudden incident.