Scott Horsley

The Labor Department on Wednesday releases the latest snapshot of consumer prices. Forecasters think inflation was a little bit milder in July than the month before.

Consumer prices rose 5.4% in July, compared to a year ago. Here's one thing to watch going forward: How rising wages impacts inflation.

Employers have figured out what it takes to find workers in a tight job market: higher wages. Restaurant wages have increased almost 10% over the last year, which could affect menu prices.

U.S. employers added 943,000 jobs in July as the unemployment rate fell to 5.4%. Nearly 70% of the new jobs went to women.

As the U.S. economy continues to rebound from the pandemic recession, lots of people are going back to work — but not as quickly as many employers would like. Employers added 943,00 jobs in June.

Cargo ships are unloading containers in the U.S. and immediately shipping them out, empty, to Asia. That's frustrating American farmers and exporters who are struggling to get products overseas.

The bottlenecks aren't just making it hard for Americans to get their hands on imported products. They're also hurting exporters whose containers may leave U.S. ports empty.

In an interview with NPR, the Treasury secretary calls to permanently expand the child tax credit being paid out to American families starting this week.

Federal Reserve Chairman Jerome Powell is testifying on the economy before a House panel a day after a key inflation gauge hit a nearly 13-year high.

Federal Reserve Chairman Jerome Powell is the nation's top inflation watchdog. When he testifies before Congress Wednesday, Powell is sure to be asked about the recent spike in consumer prices.

Consumer prices jumped in June, with businesses struggling to keep up with demand out of the pandemic. The consumer price index rose 5.4% in the last year, the highest inflation in nearly 13 years.

Consumer prices surged 5.4% in June from a year earlier, the highest in nearly 13 years, the Labor Department said on Tuesday. That was higher than the 5% increase seen in May.

A surge in prices of used cars was a major driver of inflation again in June, but there are some signs those price hikes may be shifting into reverse.

The stock market slumped just one day after the S&P 500 index and the Nasdaq hit record highs. Fresh pandemic concerns may have rattled investors, as Japan has decided to declare a state of emergency.

Lumber prices soared during the pandemic, sparking inflation fears. Just as quickly, prices then dropped, but that's not the end of the story.

The American jobs market is hot at more and more people spend money and venture out for good and services.

U.S. employers added 850,000 jobs in June as the unemployment rate reached 5.9%. Job growth accelerated in the last two months, but many employers say they'd happily hire more workers if they could.

U.S. employers added 850,000 jobs in June, and the unemployment rate was largely the same as in May. Many sectors, including restaurants and factories, have struggled to find enough workers.

Small businesses are struggling to find enough workers to keep pace with booming demand even as data showed 850,000 jobs created in June.

Employers are hiring aggressively but still can't find enough cooks, drivers or waiters at a time when millions of Americans remained unemployed. This tension is especially felt by small businesses.