CPI rose at 2.7% annual rate in December as inflation remains sticky
Although there are signs that inflation is starting to ease, consumers still face pressures from high food prices and other costs.
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Although there are signs that inflation is starting to ease, consumers still face pressures from high food prices and other costs.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Economists had expected CPI to rise at an annual rate of 3% last month.
Inflation last month rose at an annual rate of 3%, coming in below economists' forecasts as the impact of President Trump's tariffs remain muted.
A 2.7% COLA increase would raise the average monthly Social Security payment by about $54.
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
CBS News is tracking the rising cost of products most impacted by tariffs already imposed and new ones announced by President Trump, from grocery items to cars and trucks.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
Beef costs around the U.S. surged to a record high in May. What's driving that jump, and are prices likely to ease up?
The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics.
Expired sales labels led to overcharges on more than 150 grocery items, according to an investigation led by Consumer Reports and others.
Weakening consumer confidence and mounting uncertainty could hit spending, economists warn.
The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.
Inflation cooled in March, but economists expect prices to reaccelerate as some of President Trump's tariffs kick in.
Americans express concern about their ability to pay bills and save money.
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
Americans have struggled with high grocery costs since inflation soared during the pandemic. Now prices are falling.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
Americans can expect ebbing inflation and a strong job market this year, according to the National Association for Business Economics.
For the first time in the U.S., credit card debt has surpassed $1 trillion.
In some areas inflation has fallen below 2%, while in other regions prices are still spiraling upward. Why?
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
Prices reflected the smallest annual increase since October 2021 amid lower costs for gasoline and energy services.
Police in Detroit are investigating after they say a woman was found dead on a street on the city's north side Sunday evening.
More than a dozen passionate Washington Township residents stood on a bridge near 26 Mile Road to raise awareness about a proposed data center on Sunday.
Team USA defended its Olympic figure skating team event gold medal on Sunday after Ilia "Quad God" ushered the team to victory at the Milan Cortina 2026 Winter Olympics.
Republicans and Democrats in Congress are locked in a standoff over reforming the nation's immigration enforcement operation as a deadline to reach a resolution and fund the Department of Homeland Security approaches.
The Michigan State Police says it's investigating a rollover crash that stemmed from a rear-end collision in Detroit on Saturday night.
Police and loved ones are looking for a 25-year-old Wyandotte, Michigan, man who family says was declared missing on Friday.
More than a dozen passionate Washington Township residents stood on a bridge near 26 Mile Road to raise awareness about a proposed data center on Sunday.
Two police officers in Highland Park, Michigan, were injured in a crash involving two of the city's own patrol cars, the Michigan State Police said Sunday morning.
Fire Chief Joseph Murray says they were in contact with the driver and are not aware of any injuries.
Police in Detroit are investigating after they say a woman was found dead on a street on the city's north side Sunday evening.
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
The winter storm that brought snow to Southeast Michigan on Sunday didn't stop car enthusiasts from leaving their homes for the final day of the 2026 Detroit Auto Show.
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
Chuck Negron, a founding member of Three Dog Night whose lead vocals powered a string of hits for one of the top rock acts of the late 1960s and early '70s has died. He was 83.
Many Super Bowl 60 ads are already online, along with teasers for commercials that will be unveiled during the NFL championship on Feb. 8.
Team USA defended its Olympic figure skating team event gold medal on Sunday after Ilia "Quad God" ushered the team to victory at the Milan Cortina 2026 Winter Olympics.
Republicans and Democrats in Congress are locked in a standoff over reforming the nation's immigration enforcement operation as a deadline to reach a resolution and fund the Department of Homeland Security approaches.
Lindsey Vonn, who came out of retirement to compete in the Milano Cortina Games, is in stable condition after her crash.
Savannah Guthrie released a new video on Saturday, saying her family is willing to pay for the safe return of their mother.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Two Metro Detroit representatives are among those sponsoring a bill that calls for a 32% tax on any wireless device purchased for someone age 17 and younger.
The Oakland Community Health Network will now be taking over that responsibility amidst a financial dispute between the two organizations.
Legionella testing at Oakland County government facilities has detected the bacteria in the water systems of two additional buildings.
When the temperatures plummet, and the snow starts piling up, most of us have the same instinct: retreat indoors, crank up the heat, and get cozy.
Planned Parenthood of Michigan has started to offer vasectomy services in Grand Rapids, with plans to expand the procedure across the state.
Team USA defended its Olympic figure skating team event gold medal on Sunday after Ilia "Quad God" ushered the team to victory at the Milan Cortina 2026 Winter Olympics.
President Trump criticized Team USA freestyle skier Hunter Hess after he and other American athletes at the 2026 Winter Olympics shared their thoughts on U.S. politics.
Lindsey Vonn, who came out of retirement to compete in the Milano Cortina Games, is in stable condition after her crash.
Terrance Gore, a former outfielder and three-time World Series champion known for his blazing speed on the base paths, has died at 34 years old, according to Major League Baseball officials.
Ryan's father led the Jets from 2009-14, including back-to-back appearances in the AFC Championship Game.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
Huntington Place CEO Bryan Crowe and his team have been preparing to welcome hundreds of thousands of visitors to the Detroit Auto Show this week.
Much warmer Tuesday morning
The Detroit Pistons flew to Charlotte on Sunday to kick off their last two road games before the all-star break. President of Basketball Operations Trajan Langdon said his goal is to have two-way breakout star Daniss Jenkins rostered by Monday. The rookie wants everyone to remember that he went undrafted.
The Washington Township Board of Trustees earlier this month asked the planning commission to review a zoning ordinance related to a planned data center. Many in the area say they don’t want the project to go through. Veronica Ortega has their story.
A mother is desperate to find her 25-year-old son who went missing from Wyandotte on Thursday. She said she last saw him at their home before he left to visit friends.
Detroit Pistons President of Basketball Operations Trajan Langdon said he took some calls ahead of the NBA trade deadline on Thursday. CBS News Detroit's Rachel Hopmayer reports on the only move the team made and why the organization has confidence in their core players.