CPI rose at an annual rate of 2.4% in January, cooler than expected
Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
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Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Most Republicans feel Trump has done more than expected, while others have views that are more mixed.
Although there are signs that inflation is starting to ease, consumers still face pressures from high food prices and other costs.
Economists had expected CPI to rise at an annual rate of 3% last month.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
A higher Medicare Part B premium in 2026 could erode next year's cost-of-living adjustment for Social Security recipients, experts say.
Those prioritizing economy say Trump is not spending enough time on it, as ratings of economy, his handling of inflation slip.
Wholesale prices for frozen turkeys are expected to be $1.32 per pound this year, a 40% increase from last year's average.
Visa predicts Americans will spend an average of $736 on holiday gifts in 2025, a 10% increase from the $669 reported last year.
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.
Social Security's annual cost-of-living adjustment is aimed at helping the program's 75 million beneficiaries keep pace with inflation.
Citing the shutdown, the Social Security Administration postponed its announcement of the annual payment bump beneficiaries will receive in 2026.
Overall grocery prices in August 2025 rose 2.7% compared to one year ago, according to the U.S. Bureau of Labor Statistics Consumer Price Index.
A 2.7% COLA increase would raise the average monthly Social Security payment by about $54.
A new survey predicts Americans will spend $1,552 per person on average, 5% less than they did in 2024.
Prices rose at an annual pace of 2.6% in July, the same rate as the previous month and in line with economist forecasts.
Americans are reining in their spending at fast-food restaurants as they continue to face economic uncertainty.
The U.S. stock market on Tuesday rose toward records after data suggested inflation in July was a touch better than economists expected.
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.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The country's GDP increased at an annual rate of 3%, a sharp turnaround from earlier this year when it fell 0.5%.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
McDonald's is reviving its long-lamented Snack Wrap and leaning into affordable eats as it looks to reverse a rare sales slump.
A former Customs and Border Protection agent from Michigan pleaded guilty on Tuesday to receiving child pornography.
The wreck of the stone-hauling vessel is in the same area where the founder of the Cleveland Underwater Explorers died in 2024.
A Shelby Township man charged with second-degree homicide and tampering with evidence will stand trial.
A Michigan man double, triple and quadruple checked his Michigan Lottery scratch-off ticket after winning $300,000.
An 18-year-old was arrested after allegedly kidnapping his 12-year-old brother along with his mother during a domestic incident, according to Michigan State Police.
Detroit Police Chief Todd Bettison says the two incidents happened in the last few months, on Dec. 16, 2025, and Feb. 9, 2026.
No vehicles were involved in the derailment, and no injuries have been reported, police said.
A former Customs and Border Protection agent from Michigan pleaded guilty on Tuesday to receiving child pornography.
The wreck of the stone-hauling vessel is in the same area where the founder of the Cleveland Underwater Explorers died in 2024.
An 18-year-old was arrested after allegedly kidnapping his 12-year-old brother along with his mother during a domestic incident, according to Michigan State Police.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
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.
Warner Bros. Discovery said that Paramount Skydance is considering enhancing its buyout offer for the entertainment company.
Robert Duvall was in such classics as "The Godfather," "To Kill a Mockingbird," "M*A*S*H," "The Great Santini" and "Tender Mercies."
"Dawson's Creek" and "Varsity Blues" star James Van Der Beek has died at 48 years old.
For the first time, a major U.S. automaker is putting a team up against the European giants of Formula One. Can Cadillac be a contender?
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
The wreck of the stone-hauling vessel is in the same area where the founder of the Cleveland Underwater Explorers died in 2024.
The series of strikes brought the death toll to at least 145 people since the administration began targeting the small vessels since September.
Two Michigan legislators got the chance to tour an ICE detention facility in northern Michigan on Tuesday, and now they are sharing what is happening behind those doors.
Rahm Emanuel, former mayor of Chicago and White House Chief of Staff for Barack Obama spoke to members of Detroit's Economic Club on Tuesday at the Masonic Temple.
The Rev. Jesse Jackson, who died at age 84, visited the Metro Detroit area many times over the years. Local religious leaders and politicians weigh in on his legacy.
Michigan lawmakers required schools to adopt a cardiac emergency response plan for the current school year if the Legislature appropriated "sufficient funds," but funding wasn't dedicated in the education budget.
What started as food poisoning for a young boy in Clinton Township turned into years of organ failure.
Officials announced eligibility for mothers and babies in the city of Detroit.
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.
A Washtenaw County judge on Tuesday granted a motion for an evidentiary hearing for ex-Michigan football coach Sherrone Moore, saying that prosecutors made an omission.
Lucas Raymond of the Detroit Red Wings was Sweden's best player and perhaps one of the best in the entire men's hockey tournament at the Milan Cortina Olympics.
Mikaela Shiffrin, who is the winningest athlete on the World Cup circuit, has now failed to win a medal in eight straight Olympic events since the 2018 Winter Games in PyeongChang.
Michigan is in a position to be No. 1 in the AP Top 25 men's college basketball poll because the program had financial support to make moves in the transfer portal and coach Dusty May has developed a selfless culture that money can't buy.
Lindsey Vonn, the 41-year-old Olympic veteran from Colorado, also reflected on her Olympic crash, saying, "I don't have regrets."
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
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.
A child was killed, and three adults were injured after a man ran down a family who was out for a walk and then fired a weapon, authorities said.
Some school districts across the country have canceled picture sessions with the national student photography company Lifetouch over social media posts attempting to connect the company to Jeffrey Epstein.
A train derailment early Wednesday morning in Pittsfield Township has led to road closures in the area that are expected to last for several days.
The Oakland County Sheriff's Office is investigating a homicide after a body was found near Proud Lake in Commerce Township. Former Michigan football coach Sherrone Moore was granted an evidentiary hearing, and more on your top headlines.
Happy Hump Day! Ok Family, lets talk rain today....expecting widespread precipitation this morning. An isolated thunderstorm cannot be ruled out. But the sun may return by late afternoon as we see temps across the area mid 50's to near 60 degrees! The mild temperatures persist through Thursday with cooler temps returning over the weekend.