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Turkey prices rising but not because of inflation
The price of poultry has been steadily rising after a bird flu killed millions of turkey. Michele Gile reports.
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The price of poultry has been steadily rising after a bird flu killed millions of turkey. Michele Gile reports.
"The Fed isn't about to 'pivot' and there is more monetary tightening to come," said one analyst.
Fed Chair Jerome Powell says curbing inflation will cause pain. Critics say putting millions out of work is unnecessary.
Julie Ramhold, a Consumer Analyst with DealNews.com, joined the studio to provide some tips for parents to avoid inflation as children head back to school taking advantage of online deals.
The U.S. Bureau of Labor Statistics announced the rise in food prices in its latest report.
Consumer prices rose 8.5% over the past 12 months, marking a slowdown but still painfully high for millions of Americans.
The bill's passage is a significant achievement for Democrats as they look to maintain their hold on Congress in the November midterm elections.
Industry experts report that airlines and travel companies are struggling to meet the demand of travelers, who are hitting the road and skies at nearly all-time highs, despite rising inflation.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Rina Nakano reports on "heatflation," a term coined by climate change experts and food industry analysts to describe the growing burden that higher temperatures puts on those in the agricultural industries and, ultimately, spikes the cost of food for consumers.
Consumer prices increased by 9.1%, according to the Labor Department, and the sudden acceleration in prices has many people needing help to get by.
Jasmine Viel reports on how the spike in inflation, which drives up the cost of everyday goods and services, has also driven up demand at local food banks.
The start of 2022 has pushed Wall Street into a bear market. Here's what the rest of the year could hold for investors.
While many people have a bleak outlook of the current economy, investment professional Chris Markowski predicts the price of some every day products at stores like Target will come down around Independence Day.
Rina Nakano speaks to an investment professional who says the price of consumer goods may decline around Independence Day due to supply chain issues being resolved and some retailers having a glut of products.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Tina Patel reports as gas prices continue to inch nearer the $7 threshold in prices. Tuesday's average of $6.46 is the 19th record set in the last 20 days.
Michele Gile reports from Santa Ana where a local restaurant owner talks about how the cost of running his business has nearly doubled, though he's doing his best to keep from passing those prices on to his customers.
Consumer prices accelerated in May as Americans face the steepest inflation in four decades.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
CBS News Business Analyst Jill Schlesinger joined the studio to discuss the recent job report from the Department of Labor, and what the nation can expect when it comes to inflation.
AA reports that the national average cost of gasoline as of Tuesday is $4.37.
Lawrence Harris, Professor at the USC Marshall School of Business and former Chief Economist with the SEC, joined the studio to discuss the ever-rising rate of inflation and how to combat the steep cost of living.
Watchdog group Accountable.US notes that the nation's top 10 retailers have recently generated $99 billion in profit.
One person died and four were taken to the hospital in a boat crash in Long Beach Wednesday, according to the Long Beach Fire Department.
One person died Wednesday and another was injured when a vehicle overturned on the 118 freeway and rolled onto a below street in Pacoima.
A man and a woman were found dead in Rosemead Wednesday, according to the Los Angeles County Sheriff's Department.
Here's where the find the biggest and brightest fireworks shows across Los Angeles and Southern California.
Temperatures pushed into the triple-digit range in parts of Los Angeles County Wednesday as a high-pressure system settled over the region, promising to linger through the Fourth of July holiday weekend and well into next week.
An Orange County jury reached a verdict Wednesday. The reading is set to take place after 3 p.m.
A brush fire burning in the hills of Simi Valley triggered the evacuation of some residents as it moved east.
One person died and four were taken to the hospital in a boat crash in Long Beach Wednesday, according to the Long Beach Fire Department.
One person died Wednesday and another was injured when a vehicle overturned on the 118 freeway and rolled onto a below street in Pacoima.
A man and a woman were found dead in Rosemead Wednesday, according to the Los Angeles County Sheriff's Department.
One person died Wednesday and another was injured when a vehicle overturned on the 118 freeway and rolled onto a below street in Pacoima.
A man and a woman were found dead in Rosemead Wednesday, according to the Los Angeles County Sheriff's Department.
Here's where the find the biggest and brightest fireworks shows across Los Angeles and Southern California.
Temperatures pushed into the triple-digit range in parts of Los Angeles County Wednesday as a high-pressure system settled over the region, promising to linger through the Fourth of July holiday weekend and well into next week.
The jury reached its verdict after deliberating for just one day.
Here's where the find the biggest and brightest fireworks shows across Los Angeles and Southern California.
Three men were arrested in the alleged robbery and killing of a 68-year-old tourist outside a Newport Beach mall.
A 69-year-old tourist was killed after suspects robbed her at the Fashion Island Mall in Newport Beach.
The resolution also urges President Joe Biden to declare the Tustin Hangar fire a national emergency.
An investigation was underway Sunday after a 20-year-old man was fatally shot in Santa Ana.
Here's where the find the biggest and brightest fireworks shows across Los Angeles and Southern California.
A bystander filmed the moments of a road rage confrontation that escalated into a stabbing on the streets of Ontario last Friday.
Police identified three of four people killed in a crash that ended a high-speed pursuit in Upland as teenagers.
Maria Martinez Lomeli, 74, was ejected from the backseat of a Kia Sorento when the driver lost control and veered into the center divider of I-15 on Sunday afternoon.
The massive fire engulfed the home early Monday morning in the 24600 block of Conejo Drive.
After a two-year KCAL News Investigation uncovered serious concerns about police selling their old weapons, a new case study has brought a new light to where agencies buy their new guns.
Thousands of guns once owned by law enforcement have been found at crime scenes, including at incidents in Southern California, an in-depth investigation has revealed.
"No teacher should have to lie as part of their job". Ross Palombo talks to a teacher in the Los Angeles Unified School who says he was told to lie about class attendance, which is how the state calculates funding from your tax dollars.
The CDC recommends that at least 95% of students have the MMR vaccine in order to lower the risk of measles outbreaks at their school, but a recent KCAL News investigation shows that hundreds of SoCal schools are well below that number.
For months, migrants have arrived in Los Angeles on controversial buses chartered from Texas. With a lack of coordination from the Lone Star state, community groups stepped in to help bring things under control and helped hundreds across Southern California.
A case of H5 influenza, also known as bird flu or avian influenza, has been confirmed in a man who was working at a dairy farm in northeastern Colorado.
Ahead of July 4, here are the states where fireworks sales are legal, where they're illegal and where various restrictions apply.
Attorneys for Alec Baldwin's "Rust" said the incentive would have been used to pay a settlement to cinematographer Halyna Hutchins' family.
Ann Wilson, lead singer of rock band Heart, says she has cancer.
The CDC says it is too early to say if this year's summer COVID-19 surge has arrived.
Following debate, age factors in, and race shifts in Trump's direction after the first 2024 presidential debate.
Lawyers involved with Jan. 6 prosecutions are focused on the date when the window to bring charges against defendants will close.
It's a welcome number for the candidate, who caused widespread concern among Democrats after his debate performance
With just hours to spare, Democratic legislators announced Sunday night an agreement on a Prop 47 reform initiative they plan to put on a ballot.
Some Democrats question Biden's ability to campaign in the 2024 presidential election, divide over whether he should be the nominee, after voters say Trump won debate.
The authorization comes after a week-long voting period for the more than 6,000 Food4Less workers represented by the United Food and Commercial Workers Local union.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
Target, looking for ways to add sales, is relaunching its Target Circle loyalty program including a new paid membership with unlimited free same-day delivery in as little as an hour for orders over $35.
When, who and how much to tip is becoming more of a question in consumers' minds.
One in four college students says they have credit card debt, according to a new survey by U.S. News and World Report. And with interest rates topping 20 percent, those students could be in debt for years. On Your Side's Kristine Lazar has more on the biggest mistakes college students are making with their credit cards.
A case of H5 influenza, also known as bird flu or avian influenza, has been confirmed in a man who was working at a dairy farm in northeastern Colorado.
The CDC says it is too early to say if this year's summer COVID-19 surge has arrived.
The FDA said its study better simulated how commercial milk processing kills the bird flu virus, H5N1.
The Los Angeles County Department of Public Health announced on Monday that there was a "concerning increase" of mpox, or monkeypox, cases that have been reported in the last two weeks.
Millions today owe their lives to the work of the man who devoted his career to public health, but in recent years Dr. Anthony Fauci has been targeted by a partisan, anti-science spectrum of opponents.
Gov. Newsom Saturday signed a state budget to close an estimated $46.8 billion deficit through $16 billion in spending cuts and business tax increases.
Democrat lawmakers in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the state budget.
The California Supreme Court has removed a measure from the state's November ballot that would have made it harder to raise taxes.
Colorado wants to welcome more celebrities and movie stars to the Front Range. The state submitted a proposal to host the Sundance Film Festival in Boulder starting in 2027.
California has fined Amazon a total of $5.9 million, alleging the e-commerce giant worked warehouse employees so hard that it put their safety at risk.
The pair of rookies were introduced at the team's training center in El Segundo on Tuesday.
Promising wing Max Christie is returning to the Los Angeles Lakers with a four-year, $32 million contract, according to CBS Sports.
Paul George agreed early Monday to leave the Los Angeles Clippers and sign a $212 million, four-year deal with the Philadelphia 76ers and team up with Joel Embiid.
Matt Chapman homered and drove in three runs, and the San Francisco Giants hit 10 doubles to rout the Los Angeles Dodgers 10-4 in front of a sellout crowd of 40,428 at Oracle Park.
Justyn-Henry Malloy hit an inside-the-park homer in the fourth inning, Carson Kelly added a three-run homer and the Detroit Tigers snapped their four-game losing streak with a 7-6 victory over the Los Angeles Angels on Sunday.
Attorneys for Alec Baldwin's "Rust" said the incentive would have been used to pay a settlement to cinematographer Halyna Hutchins' family.
Ann Wilson, lead singer of rock band Heart, says she has cancer.
Over a month ahead of their scheduled stop in Colorado, Neil Young and Crazy Horse canceled their entire tour, which includes the show scheduled for July 31 at Fiddler's Green.
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Alec Baldwin's attorneys say the involuntary manslaughter charge against him for the "Rust" shooting that killed Halyna Hutchins should be dismissed.
Deputies said there was a pyrotechnical incident Wednesday night.
Not assigned
An officer was struck by gunfire Wednesday night.
Another one of the men fired a gun three times, according to police.
A man and a woman were found dead in Rosemead Wednesday, according to the Los Angeles County Sheriff's Department.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Shots from the second day of the JM Eagle LA Championship held at the Wilshire Country Club in the Palos Verdes Estates.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The Academy Awards will hand out filmmaking's top honor in 23 categories during the 2024 Oscars at the Dolby Theatre in Hollywood, starting at 7 p.m. Eastern, 4 p.m. PDT.
Shots from the PGA's Genesis Invitational golf tournament held at the Riviera Golf Club in the Pacific Palisades.