Attention shoppers: Spam and guacamole will soon cost more
Supermarkets tout discount campaigns to inflation-weary shoppers as more people turn to cheaper private labels.
Inflation
Record gas prices affect summer travel
High gas prices throughout the nation are turning into major speed bumps for summer travel plans. The nation's average price for a gallon of gas is now $4.76 – another new record. Kris Van Cleave reports on the increasing costs of going on a road trip.
In these locations, gas costs more than the U.S. minimum wage
A handful of gas stations are charging $7.25 or more for a gallon of gas as fuel prices hit another record.
Inflation grips small businesses
Americans are continuing to face record high prices as inflation soars at its fastest pace in more than 40 years. Carter Evans spoke to several small business owners who say they are struggling to keep their doors open.
5/31: Red and Blue
Congress discussing bipartisan gun control bills; Biden looks to curb inflation
Optimism among small business owners at historic low amid inflation surge
Nationally, 85% of small businesses experienced financial challenges in the last year, according to the Small Business Credit Survey.
Yellen admits she was "wrong" about inflation in 2021
"I think I was wrong then about the path that inflation would take," Treasury Secretary Janet Yellen told CNN.
White House adviser talks fighting inflation
The U.S. is struggling with some of its highest levels of inflation in four decades. Heather Boushey, who is on the White House’s Council of Economic Advisers, joins CBS News to discuss the Biden Administration’s plans to address its new top economic priority, inflation.
MoneyWatch: Stocks down to close out May
The major stock indexes ended Tuesday with losses after ping-ponging throughout the day. Geetu Sharma, the founder and investment manager of AlphasFuture LLC, joins CBS News during the closing bell on Wall Street to discuss what was driving the market and what to expect in June.
Stocks slip after EU agrees to partial ban on Russian oil
Investors retreat as global crude prices jump on European Union plan to embargo most Russian oil exports.
MoneyWatch: Biden meeting with Fed chair
Americans have been facing rapidly increasing prices at the gas station and grocery store and in the housing market. President Biden is expected to address this during a meeting with Federal Reserve Chairman Jerome Powell on Tuesday. Frances Stacy, director of strategy at Optimal Capital, joined "CBS News Mornings" to discuss what's contributing to high inflation.
Holiday weekend travel up despite gas prices
Despite record-high gas prices increasing the cost of travel, millions of Americans are hitting the road and taking to the skies for Memorial Day weekend. Tom Wait has more.
Severe weather, gas prices impacting holiday travel
Nearly 40 million Americans will travel over Memorial Day weekend, AAA estimates. While inflation and gas prices aren't keeping them home, severe weather could delay travel plans. Errol Barnett has more.
Wall Street breaks 7-week losing streak — longest since 2001
Investors cheered by economic data showing that inflation slowed in April for the first time since November 2020.
Retailers use price-gouging to score record profits, watchdog charges
The top 10 retailers have raked in $99 billion of profit last year, according to one corporate accountability group.
Key inflation gauge eases for the first time since 2020
Although U.S. inflation remains painfully high, two closely watched barometers suggest prices are moderating.
Newly built home sales fall to pre-pandemic lows
Sales of newly built homes have plummeted to pre-pandemic levels as inflation and mortgage rates rise. Danielle Hale, chief economist for Realtor.com, joined CBS News' Jim Axelrod to discuss what this means for the market.
Rancher describes financial struggles amid inflation
The price of meat, poultry and fish has increased 14% in a year. Ranchers across the U.S. are feeling the pinch as the cost of doing business increases. Dennis Sun, publisher of Wyoming Livestock Roundup and a fourth generation rancher, joins CBS News' Tony Dokoupil and Tanya Rivero to discuss.
U.S. economy shrank at 1.5% rate in the first quarter
Even though consumers and businesses kept spending, a trade imbalance pushed down the economy between January and March.
School lunches scaled back by higher costs and supply chain issues
Supply chain issues and the spiraling cost of key ingredients has forced school districts to pull back or make substitutions.
Impact of rising food costs on school lunches
Nationwide, school lunch programs are grappling with the rising food prices and ingredient shortages due to supply chain disruptions. CBS News correspondent Scott MacFarlane spoke to school lunch administrators who are struggling to put together the weekly lunch menus.
Americans increasingly concerned with economy
New CBS News polling shows Americans are increasingly concerned with economic issues ahead of the 2022 midterm elections. Meanwhile, critical primary races in Georgia on Tuesday are poised to test former President Trump's influence in the Republican Party.
Brutal week on the stock market
Americans are paying record high prices at the pumps, as inflation fears wreak havoc on the stock market. Errol Barnett reports from Washington, then Lana Zak speaks with Baker Boyer Bank's Chief Financial Officer John Cunnison about how this will impact the average American.
Scott says GOP will focus on inflation in midterms
GOP Sen. Rick Scott of Florida says the midterm elections are "going to be about the effectiveness of the Biden administration, and I think it bodes well for Republicans."
What's fueling high gas prices
Inflation, the war in Ukraine, supply chain issues coupled with rising demand are all factors in the steep gas prices the country is seeing, but there's more to it. Michael George has the latest.
Live
U.S. blockade on Iran restarts as Trump angles for control over Strait of Hormuz
As the U.S. restarts its Iran blockade and carries out more strikes, President Trump has called off a planned 20% fee on shipping through the Strait of Hormuz.
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.
House passes bill to make daylight saving time permanent
The measure also allows states to opt out if they take action before the federal law is enacted.
State board: Musk may have broken election law by offering $1M checks to voters
The Wisconsin Elections Commission found billionaire Elon Musk may have violated the state's election bribery law by offering $1 million checks to voters during an election last year.
Cyclospora outbreak leaves consumers guessing which foods are safe
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
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.
Social Security's 2027 COLA could be the biggest in years
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.
Spain reaches World Cup final with dominant 2-0 win over France
In a match Tuesday featuring two of soccer's biggest heavyweights, Spain put in a masterful performance, frustrating France to the tune of a 2-0 win to advance to Sunday's World Cup final.
Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
U.S.
More U.S.
State board: Musk may have broken election law by offering $1M checks to voters
The Wisconsin Elections Commission found billionaire Elon Musk may have violated the state's election bribery law by offering $1 million checks to voters during an election last year.
House passes bill to make daylight saving time permanent
The measure also allows states to opt out if they take action before the federal law is enacted.
Spain reaches World Cup final with dominant 2-0 win over France
In a match Tuesday featuring two of soccer's biggest heavyweights, Spain put in a masterful performance, frustrating France to the tune of a 2-0 win to advance to Sunday's World Cup final.
Scammers are using FaceTime to steal bank account passwords
The scheme begins with fake fraud alerts before shifting to a FaceTime call, where victims are tricked into exposing sensitive banking information.
Senators introduce bipartisan plan to tackle Social Security insolvency
The Promise Act would establish a legislative procedure with the goal of preserving Social Security's trust funds for the next 50 years.
MoneyWatch
More MoneyWatch
Scammers are using FaceTime to steal bank account passwords
The scheme begins with fake fraud alerts before shifting to a FaceTime call, where victims are tricked into exposing sensitive banking information.
Senators introduce bipartisan plan to tackle Social Security insolvency
The Promise Act would establish a legislative procedure with the goal of preserving Social Security's trust funds for the next 50 years.
Cyclospora outbreak leaves consumers guessing which foods are safe
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
Social Security's 2027 COLA could be the biggest in years
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.
Politics
More Politics
State board: Musk may have broken election law by offering $1M checks to voters
The Wisconsin Elections Commission found billionaire Elon Musk may have violated the state's election bribery law by offering $1 million checks to voters during an election last year.
House passes bill to make daylight saving time permanent
The measure also allows states to opt out if they take action before the federal law is enacted.
Senate Democrats block must-pass defense policy bill over Iran war objections
Senate Democrats blocked a must-pass annual defense policy bill from moving forward on Tuesday as they voiced opposition to the Trump administration's handling of the war with Iran.
Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
House GOP leaders break logjam after conservative revolt
The House on Tuesday finally broke an impasse that had stalled most legislative action on the floor.
HealthWatch
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HealthWatch
Taco Bell removes some items amid outbreak
As of Tuesday, nearly 7,000 people in 34 states reported symptoms tied to a parasitic illness that, so far, has no official source. Carter Evans reports on what's suspected of being behind the cyclosporiasis outbreak.
Cyclospora outbreak leaves consumers guessing which foods are safe
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
"Miracle on the Hudson" pilot, Capt. "Sully," shares Alzheimer's diagnosis
Capt. Chesley "Sully" Sullenberger, who famously landed a passenger jet on the Hudson River in 2009, said he has been diagnosed with Alzheimer's disease.
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.
World
More World
Iraq seizes mounds of gold and millions in cash in corruption crackdown
An anti-corruption probe in Iraq leads to seizure of 825 pounds of gold and tens of millions in cash from lawmakers and government officials.
Spain reaches World Cup final with dominant 2-0 win over France
In a match Tuesday featuring two of soccer's biggest heavyweights, Spain put in a masterful performance, frustrating France to the tune of a 2-0 win to advance to Sunday's World Cup final.
Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
U.S. marine biologist shot dead in the Philippines, companion injured
Kent Carpenter and his Filipina companion were at his house in the coastal town of Sibulan when masked men forced their way in.
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.
Entertainment
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Insider at "The Wolf of Wall Street" firm opens up: "My lifestyle was insane"
The Paramount+ documentary "The Real Wolf of Wall Street" gives an inside look at Jordan Belfort's scandal-ridden firm, Stratton Oakmont.
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.
Technology
More Technology
Scammers are using FaceTime to steal bank account passwords
The scheme begins with fake fraud alerts before shifting to a FaceTime call, where victims are tricked into exposing sensitive banking information.
Hochul halts NY data center construction
New York Gov. Kathy Hochul imposed a year-long moratorium on "hyperscale" AI data centers, halting construction as the state investigates the wider economic and environmental impacts. Shanelle Kaul explains more.
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.
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.
N.Y. 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.
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
More Crime
U.S. marine biologist shot dead in the Philippines, companion injured
Kent Carpenter and his Filipina companion were at his house in the coastal town of Sibulan when masked men forced their way in.
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.
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
Trump doesn't rule out Iran ground invasion
President Trump told Fox News on Tuesday that he won't rule out a ground invasion of Iran. The comments come amid another round of U.S. strikes against Iranian targets. CBS News' Eleanor Watson reports.
Spain beats France, reaches World Cup final
Spain emerged triumphant from its World Cup semifinal on Tuesday, beating France 2-0 and securing a spot in the final, which will be played in New Jersey on Sunday. CBS News' Nicole Valdes reports.
Justices request increased security budget
Supreme Court Justices Amy Coney Barrett and Elena Kagan appeared before House and Senate committees Tuesday to argue for an increase to their security budget, testifying on the increasing threats they face. CBS News' Taurean Small reports.
Granddaughter wears grandmother's wedding gown
The eldest granddaughter in a Pennsylvania woman's family long wanted to wear her grandmother's dress for her own wedding. When the dress fit perfectly, Catherine Michelle Bartlett walked down the aisle in it, exactly as is. Tony Dokoupil has the story.
New wave of U.S. strikes on Iran
The U.S. military launched a new wave of strikes against Iran Tuesday as it reinstated its naval blockade against the country. CBS News' Olivia Rinaldi reports.