U.S. inflation rose 2.6% in October, a month after Fed's first rate cut
The Federal Reserve began cutting its benchmark rate in September amid cooling inflation.
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The Federal Reserve began cutting its benchmark rate in September amid cooling inflation.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
"It's the economy, stupid," – A four-word strategy that helped Bill Clinton defeat incumbent President George H.W. Bush in 1992. Three decades later, the economy again was a driving factor in a presidential election. CBS News Chicago examined exit poll results and the way rising prices helped President-elect Donald Trump win his second term in office.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
Those grilling or feeding friends this holiday weekend are likely paying more this year than they did last Labor Day. Prices are up for several summer cookout staples. CBS News Chicago wanted to know how local eateries are coping with higher prices for food.
The cost of Labor Day staples like meat, beer, and beans, was up anywhere from 3% to 10%, according to the CBS News price tracker.
Those grilling or feeding friends this holiday weekend are likely paying more this year than they did last Labor Day. Prices are up for several summer cookout staples. CBS News Chicago wanted to know how local eateries are coping with higher prices for food.
The deal, available through Subway's app and website for a limited time, is aimed at inflation-weary consumers.
Analysts say home buying and renting costs can lag behind other inflation improvements, but many see good news for homebuyers down the line.
Mars is buying food company Kellanova, giving it access to brands such as Cheez-It and Pop-Tarts.
Certified financial planner Jessica Debold of Goldstone Financial Group joins us with a sobering report on how inflation has affected back-to-school shopping, and what you can do to cut costs.
The latest consumer price data furthers the case for an interest rate cut by the Federal Reserve as soon as September.
These charts track the prices consumers are paying for groceries and other goods now compared to the cost five years ago, as inflation lingers.
This week, Mcdonald's is launching a new $5 meal deal and CBS Correspondent Kenny Choi reports, Americans crave fast food, but with higher prices, more and more simply, they aren't lovin' it.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
Marnie was ticked off by the practices of a local ice cream vendor – with the price of ice cream apparently having risen to more than $11 in U.S. dollars for two treats.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
One Fed official on Thursday said if the economy continues to demonstrate strength, "Why would we cut rates?"
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
Christmas traditions aren't immune to the inflation we've all been feeling this year. PNC Bank did the research and found the items in the classic song "The Twelve Days of Christmas" would cost a little more than $46,000.
It may seem hard to believe, but after the holidays, the presidential campaign season will really heat up -- and CBS News just out with a new poll on how people are feeling about the economy. CBS News pollster Anthony Salvanto joins us to explain the results.
Illinois State Police said 42-year-old Abram Perez was shot and killed after firing several shots at police in DeKalb County.
When the girl woke up, the man fled the scene on a rental bicycle, according to police.
Snow on the ground is accumulating, creating slushy road conditions.
Tomasz J. Kalembasa, 40, was charged with vehicular hijacking.
Periods of moderate to heavy snow are dropping visibility and leading to quick accumulations across the area.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
The reopened Pilsen facility is one of three that Mayor Brandon Johnson promised would reopen by the end of the year.
Anthony Finch has filed suit against the village and Mayor Derrick Burgess for wrongful termination. Now, four trustees want to bring Finch back to the village—but this time working as an auditor.
Judicial regulators have filed a complaint against a former Wisconsin Supreme Court justice who spread election conspiracy theories and was hired by Republicans to lead an investigation into President-elect Donald Trump's loss in the 2020 election, accusing him of violating multiple rules of conduct.
"Some of the steps and measures that are being taken, these are some individuals that are having tantrums right now. It's time to grow up. The people of Chicago don't have time for that," Johnson said.
So far, despite several requests, the woman has not been able to get a hold of her medical records to send to her new doctors.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
Robin McElroy said she loves everything about her Morgan Park home—except for the panic-inducing surprises she has been getting in the mail about her supposedly unpaid taxes.
Scammers often get financial information and personal details, or lure in veterans with videos that claim they can win lots of money,
It's the season of giving, but if you're not careful with finances, you could be getting a hefty bill at the end of the holiday season.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
The FDA sent a warning letter flagging "significant violations" of manufacturing regulations for Tom's of Maine toothpaste.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
An attorney representing a conservative prosecutor struggled Monday to convince Wisconsin's liberal-leaning Supreme Court to reactivate the state's 175-year-old abortion ban.
The "Dawson's Creek" alum shared the news on Sunday and said that despite the diagnosis, there is "reason for optimism, and I'm feeling good."
Owner Ricky Burns made a big dream come true in the tiny space on Western Avenue in West Ridge.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
The nonprofit Far South Community Development Corporation is working to create everlasting change—and has a vision specifically for the commercial corridor at 115th and Halsted streets.
Wonder Group, a New York-based food ordering company that touts "fast fine" dining, is set to be Grubhub's new owner.
Foxtrot will be pouring free drip coffee between 6 a.m. and 10 a.m. at the Fulton Market location to celebrate the reopening.
Ravyn Lenae, a rising R&B star from the South Side of Chicago, is among the artists announced Wednesday for the popular California desert music festival.
Speaking to American Theatre in 2018, Vire said he arrived in Chicago as a "lapsed actor," and fell into theatre criticism "through the back door."
With the release of part one of her new memoir, Cher talks about her relationship - on stage and off - with Sonny Bono, and why their TV partnership survived beyond their marriage.
"America demanded it and now it's happening: Taco Bell's new Cheesy Chalupa Supreme. In other news, I'm hosting the Oscars," Conan O'Brien said.
The IBA also gave out the Silver Dome Awards at its luncheon Wednesday.
Take an inside look at the preparations being made for this year’s Magnificent Mile Lights Festival.
Rae is a 3-month-old lab mix who is doing well with potty training, and is super smart and eager to please. Axel is a 2-year-old lab mix who is friendly with every dog and person he meets, but needs to remain calm while recovering from heartworm treatment.
The season's first snowfall of the season is impacting driving conditions in the Chicago area. Snow on the ground is accumulating, creating slushy road conditions.
Heavy snow made it hard to see planes taking off and landing at Midway International Airport on Thursday.
A Winter Weather Advisory will be in effect until 1 p.m. in the Chicago area. It has been extended until 3 p.m. in Northwest Indiana and Kankakee County.
Periods of moderate to heavy snow are dropping visibility and leading to quick accumulations across the area.
The state's highest court ruled a special prosecutor's decision to re-indict Smollett violated his constitutional rights after Cook County prosecutors previously dropped charges against him.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
Four people were taken to area hospitals in serious-to-critical condition, and one of those four was described as "very critical" by the Fire Department.
Tomasz J. Kalembasa, 40, was charged with vehicular hijacking.
A judge released Constantin Beldie on electronic monitoring in October, after he allegedly beat and tried to kidnap his estranged wife. He's now accused of killing her weeks later.
So far, despite several requests, the woman has not been able to get a hold of her medical records to send to her new doctors.
The police department has spent $22.6 million in overtime this year for officers working special events — only about $2 million of which has been reimbursed to the city.
Indiana is ranked among the states with the weakest gun safety laws, in part because it does not have a law that requires safely storing firearms.
"How is this possible that so many things could have gone wrong and allowed for this to happen?" Candice Gatlin said.
Will Riley led Illinois (3-1) with 18 points and nine rebounds while Kylan Boswell added 17 and Kasparas Jakucionis had 15.
Zach Lavine scored 27 points to lead Chicago. Torrey Craig added 15, while Nikola Vucevic and Coby White had 14 each.
Morgan went 3-0 with a 1.93 ERA in 32 appearances last season for the AL Central champion Guardians.
Williams and the Bears offense will try to build off the positives in game one this past weekend with Thomas Brown calling plays.
Meyer had five rebounds for the Blue Demons (5-0). Troy D'Amico scored 14 points.
When the girl woke up, the man fled the scene on a rental bicycle, according to police.
Alicia Robles said didn't initially feel the pain because she was still absorbing the situation—and then seconds later, her skin, she said, was on fire.
A judge released Constantin Beldie on electronic monitoring in October, after he allegedly beat and tried to kidnap his estranged wife. He's now accused of killing her weeks later.
Police said the drive-by shooting happened on the 2400 block of South Oakley Avenue around 10:45 a.m.
CTA officials received a disturbance call just before 9:40 a.m. on board a bus near the entrance to the Red Line station along the Dan Ryan Expressway.
