On track with expectations, inflation cooled slightly in February.
The latest consumer price index (CPI) shows prices rising 0.4 percent month-over-month in February, down from 0.5 percent in January, while the annual inflation is up 6 percent, down from 6.4 percent.
Shelter accounted for 70 percent of the increase, rising 0.8 percent. The jump came despite efforts by the Federal Reserve to tamp down on home prices by rapidly raising interest rates.
Food prices, meanwhile, decelerated from 0.5 percent to 0.4 percent, and energy prices declined 0.6 percent after rising 2 percent in January. The drop in energy prices was mostly powered by a 7.9 percent drop in fuel oil prices.
Used car prices also fell a whopping 2.8 percent. Once one of the main drivers of inflation, the category is now helping bring down the index.
The Department of Transportation is investigating a Delta Air Lines flight where passengers were stuck in extreme heat while waiting on a flight on the tarmac.
Billionaire philanthropist MacKenzie Scott's first open call for grants yielded 6,353 applications from nonprofits — meaning candidates have at least a 4% chance of being selected for a $1 million grant.
Sales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines. The national median sales price fell on an annual basis for the fifth month in a row, though fierce competition led to about one-third of homes selling for more than their list price.
Not properly planning a will for when you die can cost your family a lot of money. Certified financial planner AJ Ayers is here to break down how to approach planning your will.
