Inflation cooled to 4% in May, its slowest pace in 2 years
Even so, the latest "report contains plenty of pain, especially for lower-income Americans," said one economist.
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Even so, the latest "report contains plenty of pain, especially for lower-income Americans," said one economist.
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
Faced with deciding between making a jumbo payment and keeping their existing vehicles, more owners are choosing to stick with what they have, even if it means spending more on repairs and maintenance.
Prices rose at the slowest rate in two years amid the Federal Reserve's ongoing series of interest rate hikes.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The research reveals indicators that contribute to financial hardship in the state, showing 1.6 million households in Michigan are financially insecure.
Majority of respondents remain pessimistic about the economy as a whole, according to Primerica survey.
Stubbornly high prices are continuing to ease, but remain far above Fed's target.
A dollar spent on food is split up among a dozen industries, many of which are seeing their own prices rise.
Stubbornly high inflation and mounting debt are weighing on many people's finances — and their minds.
More than a third of consumers are struggling to stay afloat, but the problems are worse in some states.
The average cost of a dozen Grade A eggs fell to $4.21 last month from a high of $4.82 in January.
The Federal Reserve may face a quandary as it copes with still-high inflation combined with instability in the banking sector.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
Extra SNAP benefits are estimated to have kept 4.2 million people out of poverty.
Can the Fed keep raising interest rates and defeat the worst bout of inflation in 40 years without causing a slump?
Home Depot marked one of the S&P's larger losses despite reporting stronger profit than expected for end of 2022.
Lower-income Americans and seniors are among those hit hardest by stubbornly high grocery prices.
Inflation rose at a 6.4% annual rate last month, driven by rising prices for housing and gasoline.
Easing inflation and a strong labor market are helping consumers feel better about the economy this month, according to a closely watched survey released Friday by the University of Michigan.
Valentine's spending is expected to go up year-over-year as consumers expand their gift-giving to friends — and even pets.
Stocks closed higher on Wall Street, marking the market's third winning week in the last four.
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
With egg costs more than doubling in the past year, calls are coming for an investigation into possible price gouging.
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
A former federal prosecutor says nothing is barring Attorney General Dana Nessell from conducting an independent investigation into Oxford High School Shooting.
Video captured when a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The annual event, which will be held from 10 a.m. to 2 p.m. on Thursday, will offer turkeys, hams, pies, produce and more.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
Both players surprised fans at a Detroit youth center at The Yunion's annual turkey drive.
A former federal prosecutor says nothing is barring Attorney General Dana Nessell from conducting an independent investigation into Oxford High School Shooting.
Video captured when a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The annual event, which will be held from 10 a.m. to 2 p.m. on Thursday, will offer turkeys, hams, pies, produce and more.
With the third anniversary of the Oxford High School shooting approaching, the parents of the victims are demanding a state-led independent investigation.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
On average, a 15-gallon tank of gas will cost Michiganders $46, which is $12 less than what they were paying from 2023's highest price in August.
General Motors announced Friday it was laying off nearly 1,000 salaried workers worldwide.
General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
Ford Motor Co. will pay a penalty of up to $165 million to the U.S. government for moving too slowly on a recall and failing to give accurate recall information.
Earlier this week, the automaker announced that it was indefinitely laying off 1,100 union-backed workers at its Toledo South Assembly Plant.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
With the release of part one of her new memoir, Cher talks about her relationship - on stage and off - with Sonny Bono, and why their TV partnership survived beyond their marriage.
Betty White will be honored with a stamp in 2025, the U.S. Postal Service announced on Friday.
Tickets go on sale Friday, November 22 at 10 a.m.
"America demanded it and now it's happening: Taco Bell's new Cheesy Chalupa Supreme. In other news, I'm hosting the Oscars," Conan O'Brien said.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
Spirit's bankruptcy filing will likely mean higher airfares across airlines as it trims schedule, according to experts.
Some Arab Americans are expressing concern over Donald Trump's picks for key positions in his next administration.
E. coli outbreaks in food are making headlines, prompting questions about how to stay safe from the bacteria that can cause sickness.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
In September, nurses submitted cards of interest to the National Labor Relations Board, which then approved the right to hold a formal vote
The FDA's Dr. Peter Marks says he hopes to keep his job under a second Trump term, and urges Robert F. Kennedy Jr. to "keep an open mind."
U.S. Consumer Product Safety Commission issues urgent safety alert after ninth recall of adult bed rails in three years.
The DOJ has notified the Michigan Department of Health and Human Services and the Michigan State Attorney General's Office of the investigation.
Overdose deaths have slowed 18% since a peak last year, the CDC estimates.
Both players surprised fans at a Detroit youth center at The Yunion's annual turkey drive.
The Detroit Lions are on fire this season, and they are setting records along the way.
The Lions are off to their best start since 1934. As of Monday afternoon, BetMGM's Super Bowl 59 odds have Detroit at +310.
The Minnesota Frost take on the New York Sirens on Sunday, March 16 at 7:30 p.m. at Little Caesars Arena.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
How did the Democrats lose so many races at once?
In Michigan, the Democrats have control of the governor's mansion and both state houses.
In Michigan, the Democrats now have control of the governor's mansion and both state houses.
Both party chairs also talked about the ground game as each looks for independent voters and those who haven't voted in a while they hope to inspire to show up on Nov. 5.
Trump and Harris and their anointed representatives continue to make campaign stops in Detroit, Grand Rapids, Flint and other places in Michigan, a critical battleground state.
Highland Park is updating residents on plans for new water meters. Council members on Monday passed a motion on three separate resolutions regarding the installation of those new meters.
Former federal prosecutor Rick Convertino says nothing is barring Michigan Attorney General Dana Nessel from conducting an independent investigation into Oxford High School Shooting.
A Michigan ballet company is asking for the public's help to save Christmas after a trailer with its "Nutcracker" props was stolen over the weekend. Video captured the moment a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The Motor City Cruise will be hosting a coaches clinic on Saturday, Nov. 23. Associate head coach Marcus Stout joined CBS News Detroit to discuss the upcoming event.
Ford Motor Company is facing new fallout over multiple recalls. U.S. auto regulators announced two investigations days after fining the automaker $165 million. Paul Eisenstein, editor-in-chief of Headlight.News, joined CBS News to weigh in.