inflation

Economy

Inflation is easing, even if it may not feel that way

10:06am January 12, 2023

by Scott Horsley

Annual inflation continued to ease, cooling to 6.5% in December, but prices are still climbing at a rapid rate, meaning people have to work longer and harder to keep the same standard of living.

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A worker rides an overloaded tricycle carrying bags of onions in Manila, Philippines on Sept. 23, 2015.

World News

"It's like gold": Onions now cost more than meat in the Philippines

3:33pm January 11, 2023

by Mary Yang

It's a problem in a country where onions are a staple for nearly every dish.

This illustration picture shows debit and credit cards arranged on a desk on April 6, 2020 in Arlington, Va. Americans are using their credit cards more to pay for everyday expenses at a time when interest rates are rising.

Economy

Americans are piling up credit card debt — and it could prove very costly

10:31am January 11, 2023

by Scott Horsley

More Americans are leaning on their credit cards to cope with rising prices. And as interest rates continue to climb, that debt is getting more and more expensive.

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Here's how life got pricier — and cheaper! — in 2022

How life got pricier (and, yes, cheaper!) this year — in 7 charts

6:52pm December 22, 2022

Boy, have we talked a lot about inflation. It affected every part of our lives (and the economy) in 2022. Here are some of its highest highs and lowest lows. (It wasn't all bad news!)

Lords-a-Leaping and other service providers helped drive the Christmas Price Index higher this year. The Lords' price (supplied by the Philadelphia Ballet) leapt 24%.

Economy

In bad news for true loves, inflation is hitting the 12 Days of Christmas

1:36pm December 20, 2022

by Scott Horsley

Partridge prices were flat this year, but the cost of pear trees jumped more than 25%. PNC bank has run the numbers on all 12 days of Christmas, as it calculates its annual holiday price index.

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Price tags are displayed at a New York City supermarket on Dec. 14. Inflation has eased recently, but more evidence is needed to show that price increases are coming down in the long term, Fed Chair Powell said Wednesday.

Economy

5 takeaways from the front lines of the inflation fight

9:14am December 15, 2022

by Scott Horsley

Inflation may be slowing, but prices are still climbing much faster than Americans are used to. The Federal Reserve's dramatic steps to bring it to heel appear to be working - somewhat.

Chair of the U.S. Federal Reserve Jerome Powell speaks at the Brookings Institution, November 30, 2022 in Washington, DC.

Economy

The Fed continues its crackdown on inflation, pushing up interest rates again

6:01pm December 14, 2022

by Scott Horsley

The Federal Reserve raised interest rates by half a percentage point Wednesday, which was a smaller increase than the four previous hikes.

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Consumers shop in the produce section of a Walmart store in Burbank, Calif., on August 15, 2022. Produce prices have been rising recently, the latest area hit by inflation.

Economy

Inflation dips in November, as gasoline savings eclipse grocery price increases

12:01pm December 13, 2022

by Scott Horsley

A new government report shows inflation cooled a bit in November. But prices are still climbing and the Federal Reserve is preparing to raise interest rates again.

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A builder sands the body of a guitar at the Fender factory, in Corona, California, on October 6, 2022. Industries sensitive to rising interest rates have been slowing hiring.

The U.S. gained 263,000 jobs last month. It's good news for workers, but not the Fed

4:38pm December 02, 2022

by Scott Horsley

Hiring slowed slightly in November amid rising interest rates. But the U.S. job market remains unusually tight. Employers added 263,000 jobs in November while unemployment held steady at 3.7%.

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Shoppers walk the aisles of Walmart for Black Friday deals in Dunwoody, Georgia. Walmart opened at 6am on Black Friday for shoppers.

Inflation looms large as Black Friday shoppers head to the stores

10:54am November 25, 2022

by Emily Olson

More than 60% of shoppers say the economy is affecting their holiday plans. Many say they'll be more selective in their purchases, going for cheaper goods and less expensive stores.