Consumer prices around the U.S. rise at fastest rate since 2008
CBSN
Consumer prices last month rose at the fastest rate since the Great Recession, firing up concerns about U.S. inflation.
The Consumer Price Index, which tracks the prices of everything from cars to clothing, jumped 0.8% in April, the Labor Department said Wednesday. Over the past 12 months, prices have increased 4.2% — the fastest rise since September 2008. Used car prices led the surge, with a record 10% increase. But the gains were broad-based. Core inflation, which excludes volatile food and energy, jumped 3% over the past year. "Almost all the gain was driven by outsized increases in sectors that are seeing demand surge as restrictions ease," Michael Pearce, chief U.S. economist at Capital Economics, said in a research note. "The rise in airfares and hotel prices is so far simply reversing the sharp declines in prices seen earlier in the pandemic. But car rental prices have surged well above pre-pandemic levels, reflecting limited supply."
In the past year, over 135 million passengers traveled to the U.S. from other countries. To infectious disease experts, that represents 135 million chances for an outbreak to begin. To identify and stop the next potential pandemic, government disease detectives have been discreetly searching for viral pathogens in wastewater from airplanes. Experts are worried that these efforts may not be enough.
Washington — Irish Taoiseach Micheál Martin said he hopes dialogue can resolve the trade war between the U.S. and the European Union after President Trump Thursday threatened to impose 200% retaliatory tariffs on European wines and alcohols.
A former local mafia boss died Wednesday after he was shot in his car in the middle of a busy highway near the French city of Grenoble, local authorities and sources close to the case told French news agency AFP.
The Social Security Administration could soon lose as many as 10,000 workers, according to former agency leaders who expect a large portion of federal workers to accept a buyout offer from the agency.
Defense Secretary Pete Hegseth has ordered a review of military standards, including physical fitness, body composition and grooming. It's a review Hegseth promised during his confirmation hearing when questioned about his statements he's made that military standards have eroded.
Washington — Democratic Rep. Raúl Grijalva of Arizona died Thursday morning after "a long and brave battle" against cancer, according to his office.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
A 37-year-old man died after falling from a chairlift that was having a mechanical problem at a Montana ski area, according to local authorities and a spokesperson for Red Lodge Mountain.
The White House is withdrawing former Florida Rep. Dave Weldon's nomination to be the director of the Centers for Disease Control and Prevention, a White House official confirmed Thursday.
The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case accusing Amazon of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.
Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.