Scott Horsley

From Walmart to the neighborhood supermarket, retailers across the country are having to adjust as Americans watch their pennies in the face of high inflation.

Rising prices at the grocery store and elsewhere are putting a strain on family budgets. Retailers are making adjustments, offering smaller package sizes and more discount options.

As retail prices continue to climb, customers are adjusting their shopping habits. Meanwhile retail giants like Walmart are tweaking their merchandise mix in response to customers' shifting demands.

The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

Falling gasoline prices are expected to put a dent in the latest inflation rate. But other costs, such as housing, continue to climb, putting a strain on many family budgets.

The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.

U.S. employers added more than half a million jobs in July: more than twice as many as forecasters had expected. The unemployment rate fell to just 3.5%, matching the level before the COVID pandemic.

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

Gasoline prices have fallen sharply and are now below $4 a gallon in many parts of the country. But analysts warn that prices could tick up again if drivers set aside their newfound gas-saving habits.

This week, the Federal Reserve will again decide whether and how much to raise interest rates to try to bring inflation under control.

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

Anyone looking to buy or sell a home is suddenly facing a very different market. Sales have dropped and once-hot markets are cooling. Home builders have noticed and are rethinking construction plans.

Ayesha Rascoe and Scott Horsley speak with economist Austan Goolsbee about what's driving inflation and why so many economic forecasts have been wrong.

Retail spending jumped more than expected in June. But it's not keeping pace with rising prices. In many cases, people are spending more money but getting less in return.

Inflation hit a new, 40-year high in June, with consumer prices up 9.1% from a year ago. Gas prices were a big part of this, but the cost of essentials like food and shelter are also rising rapidly.

Inflation hit a new, four-decade high of 9.1% last month, fueled in part by record high gasoline prices. Gas prices have since fallen, but overall inflation is still elevated.

Job gains in June were surprisingly strong, defying gloomy forecasts of a looming recession.

U.S. employers added 372,000 jobs in June, while the unemployment rate held steady at 3.6%. Despite slightly slower job growth, the labor market remains an economic bright spot.

A Labor Department report is expected to show U.S. employers added more than 200,000 jobs in June — a modest slowdown from May. The job market has proven resilient despite high inflation.