Economy

Here's the projected Social Security COLA for 2027, according to AARP

Updated on: September 11, 2026 / 11:59 AM EDT / CBS News

Iran, Russia condemn Western economic sanctions and urge BRICS bloc to deepen economic ties

Iranian President Masoud Pezeshkian and Russian President Vladimir Putin criticized Western sanctions and asked the BRICS bloc to deepen trade ties.

NYC's 'Baklava Guy' Started Selling Turkish Pastries as 'a Joke,' Now it Brings in $20K/month: 'It's My Whole Life'

The 30-year-old entrepreneur behind Good Baklava went viral for handing out free pastries after New York Knicks games and selling to strangers in local parks.

I Bring in $20,000 a Month Selling Turkish Baklava

Jacob Komarow ("Roy Donk") turned a $50 baklava experiment at a Phish concert into Good Baklava, a New York City business that averages just over $20,000 in monthly sales. Instead of opening a traditional storefront, Komarow sells Turkish baklava in parks, at beaches, concerts and music festivals, while also running an e-commerce and wholesale business. After overcoming drug addiction and entering sobriety with thousands of dollars in debt, Komarow says Good Baklava has become his “ticket out.”

Here’s the inflation breakdown for August 2026

Inflation remained stubbornly high in August, largely on the back of higher energy prices amid the Iran war, economists said.

Consumer outlook plunges in September as inflation outlook worsens

The survey's headline index hit a level of 47.8, down 7.5% from the August reading and off 13.2% from a year ago.

August consumer inflation cements Fed rate hike odds. What Wall Street is saying

The print was enough to raise chances of a quarter-point Fed rate increase next week to nearly 86% from 72% on Thursday, according to the CME FedWatch tool.

Diesel prices reach all-time high of $6

The national average price of diesel hit $6 per gallon for the first time ever, driven by the supply constraints created by the conflict in the Middle East.

Thinking about investing in gold bars and coins? Here's where prices could be headed this fall.

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Inflation persisted in August, potentially locking in a Fed interest rate hike

The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.

How would consumers feel a U.S. ban on Canadian booze and other products?

September 11, 2026 / 7:42 AM EDT / CBS News

IEA warns global oil refining system ‘stretched to the limit’ as Iran, Ukraine wars tighten market

The energy agency warned shrinking inventories and strained refineries could further tighten markets.