Gary Cohn, IBM vice chairman and the head of the National Economic Council in President Trump’s first term, told “Face the Nation with Margaret Brennan” that prices are “not going to fall like a rock overnight” if a truce between the U.S. and Iran is signed because “we’re going to have to see exactly what … Read more
Wholesale prices see biggest spike since 2022 as energy costs climb – CBS News Watch CBS News The producer price index came in much higher than expected in May, signaling that U.S. consumers may face more inflation in the coming months. CBS News’ Kelly O’Grady explains. Source link
Inflation facing U.S. businesses surged in May to its highest level since November 2022 amid higher energy prices stemming from the Iran war. The Producer Price Index, which registers inflation before it reaches consumers, soared 6.5% in May from a year ago, the Labor Department reported on Thursday. On a monthly basis, the PPI rose … Read more
Jo Ling Kent explains what’s driving the rise of ticket prices for events like the World Cup, NBA Finals and summer concerts, and how consumers can save money. Source link
Rising inflation could have an impact on the price of gold. J Studios/Getty Images The price of gold broke numerous records multiple times in 2025, but since the end of last year, things have been more volatile. While the precious metal did set a new price record back in January, the rest of the year … Read more
IE 11 is not supported. For an optimal experience visit our site on another browser. Bill Gates tells Congress relationship with Epstein ‘error in judgement’: House Oversight Democrat 08:52 Kornacki: Graham Platner’s primary win margins ‘a sign of strength’ amid controversies 10:21 Now Playing Trump says ‘I love the inflation’ as Iran war continues to … Read more
U.S. consumers paid higher prices once again in May, with inflation at its highest level in over three years. According to the latest report from the Bureau of Labor Statistics, consumer prices accelerated at an annual rate of 4.2%. CBS News MoneyWatch correspondent Kelly O’Grady has more. Source link
Household budgets are under increased pressure as new Consumer Price Index data shows inflation rose to 4.2%, the highest level since April 2023. The Federal Reserve will meet later in June to discuss interest rates. CBS News’ Kelly O’Grady breaks it down. Source link
Inflation is likely to have increased for a third straight month in May as the war with Iran sent energy prices higher and ratcheted up pressure on U.S. consumers. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. The Bureau of Labor Statistics’ Consumer Price Index for last month … Read more
WASHINGTON — Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat that rising costs pose for the Trump administration as midterm elections near. Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department … Read more