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what a crazy day in the markets and for the economy. just when we thought the inflation news couldn't get worse, it did. a sign of what is coming. wholesale inflation that makes you think wait a minute. the retail inflation that is bad could get worse. susan li with more. >> the dow down sharply this morning after the near record high inflation numbers for producers. wholesale prices coming at 11% higher than last year. you couple that with the steepest consumer price increase and 41 years. we know that americans and companies are paying a lot more for their goods these days. meantim...

1981 when ronald reagan was president and battling a recession that seemed endless. a guy names paul volcker was hiking interest rates a full percentage point at a team to squash inflation that proved relentless. when indiana jones was the hottest movie in the country and charles and diana, the hottest wedding ticket in the world. back then bacon cost $1.75 a pound. try more like $7 now. coffee was $2.46 a pound. closer to $6 now. a half gallon of ice cream set you back about $2. nearly trip that will today. some perspective on time and prices. lower and slower back then. faster and ...

in this case, it is quite jam packed. we're covering what's gown on in saudi arabia, all of that and vladimir putin going to that neck of woods, iran next week. let's talk about what happened this week with the president's trip, wrapped up now in the royal kingdom. peter doocy in jeddah, saudi arabia, with more. peter. >> reporter: neil, the president is aboard air force one. we expect him to take off for joint base andrews in maryland any minute. he came to the middle east looking for gulf leaders to boost oil production capacity because he thinks that might help lower gas prices ba...

signs of hitting the brakes. in a new report published today, the house of commons�* public accounts committee says that the "unimaginable" cost of test & trace has failed to deliver the central promise of averting a second — and third lockdown. the committee chair said that the british taxpayers cannot be treated by government like an atm machine any longer. the scheme was introduced in may last year, and began with a budget of £22 billion. since then it has been allocated £15 billion more, totalling £37 billion over two years. the report also questioned the over—reliance o...

To reach the upper floors because of intense heat and falling debris. This is a completely unprecedented fire. In my 29 years in the London Fire Brigade i have never seen a fire of this nature, and i have seen many high rise fires. Residents have been taking shelter in nearby community centres, some are still looking for missing relatives. She said we cant do it because the smoke is killing her, the smoke is coming. The smoke is coming through the doors, shes keep covering it but. Its everywhere. And that was the last time we heard from her. Theres no word yet on the cause of the blaze. Reside...