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.
Thousands of people are excited to come down to see all of the cars at the Detroit Auto Show. Many of those vehicles have taken a long and historic route to get here.
Ford Motor Company announced a new multi-year partnership with Carhartt that will launch a Super Duty special edition truck and a community initiative to attract more skilled tradespeople.
A United Auto Workers union member who was involved in a heated exchange with President Trump on Tuesday in Michigan has been suspended by Ford, a UAW representative confirmed to CBS News Detroit.
Jeremy Swayman stopped 24 shots for his first shutout of the season, and the Boston Bruins beat the Detroit Red Wings 3-0 on Tuesday night.
The regularly scheduled service flight between Detroit and Chicago's Midway landed safely after the cracked windshield was found.
Thousands of people are excited to come down to see all of the cars at the Detroit Auto Show. Many of those vehicles have taken a long and historic route to get here.
A United Auto Workers union member who was involved in a heated exchange with President Trump on Tuesday in Michigan has been suspended by Ford, a UAW representative confirmed to CBS News Detroit.
Ford Motor Company announced a new multi-year partnership with Carhartt that will launch a Super Duty special edition truck and a community initiative to attract more skilled tradespeople.
Organizers said they're hopeful the city council will consider and implement policies that would prevent the city from cooperating with ICE.
The White House defended a video that appeared to show President Trump flipping off a person who yelled at him while touring a Ford factory in Michigan on Tuesday.
Thousands of people are excited to come down to see all of the cars at the Detroit Auto Show. Many of those vehicles have taken a long and historic route to get here.
Ford Motor Company announced a new multi-year partnership with Carhartt that will launch a Super Duty special edition truck and a community initiative to attract more skilled tradespeople.
A United Auto Workers union member who was involved in a heated exchange with President Trump on Tuesday in Michigan has been suspended by Ford, a UAW representative confirmed to CBS News Detroit.
President Trump returned to Southeast Michigan on Tuesday, where he toured a Ford factory in Dearborn and delivered a speech at the Detroit Economic Club.
At last year's show, organizers say attendees took more than 100,000 rides in them.
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
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Bob Weir wrote or co-wrote and sang lead vocals on Grateful Dead classics including "Sugar Magnolia," "One More Saturday Night" and "Mexicali Blues."
Isiah Whitlock Jr. is perhaps best known for his role as state Sen. R. Clayton "Clay" Davis on HBO's "The Wire."
A United Auto Workers union member who was involved in a heated exchange with President Trump on Tuesday in Michigan has been suspended by Ford, a UAW representative confirmed to CBS News Detroit.
General Motors CEO Mary Barra said the Trump administration's tariffs caused a "few-billion-dollar impact," but also praised them for "leveling the playing field."
President Trump shared a warning for Iran, called Jerome Powell a "lousy Fed chairman" and defended the ICE agent who killed Renee Good in Minneapolis. Read the full transcript of their conversation.
While President Trump was speaking on Tuesday to the Detroit Economic Club inside the Motor City Casino, dozens of people gathered outside to protest his visit.
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
The U.S. House of Representatives approved Thursday a three-year extension of subsidies for the Affordable Care Act.
Michigan health officials say only 23% of Michigan residents have received this year's influenza vaccine.
The CDC took six previously routine vaccinations off its recommendation list, but Michigan health officials suggest parents consider those immunizations anyway.
Eligible Detroit families will receive $1,500 during pregnancy, along with $500 per month for six months, for a total of $4,500 through Rx Kids.
FDA-approved semaglutide drug is the first GLP-1 pill for weight loss available in the U.S., according to drugmaker Novo Nordisk.
Jeremy Swayman stopped 24 shots for his first shutout of the season, and the Boston Bruins beat the Detroit Red Wings 3-0 on Tuesday night.
The Detroit Red Wings retired Sergei Fedorov's No. 91 jersey, honoring the Russian great more than a decade after he was inducted into the Hockey Hall of Fame.
Andrew Copp scored at 3:27 of overtime, lifting the Detroit Red Wings to a 4-3 win over the Carolina Hurricanes on Monday night.
Lions' Kelvin Sheppard is expected to interview for the Dolphins head coaching job after serving one season as defensive coordinator, a source told CBS News Detroit.
Adrian College's Alex Weaver beat out 117 other competitors to win the college singles cornhole national championship on Jan. 2.
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.
The focus is on health, as Dusty Mysen, a father of four from Oxford, diagnosed with pancreatic cancer several years ago, who underwent aggressive therapy, is now cancer-free five years later.
The roundtable discusses efforts by political and corporate leaders to raise the bar and improve K-12 education with a focus on raising reading scores.
With one in eight adults at risk for kidney disease, Dr. Silas Norman, a University of Michigan doctor specializing in kidney health, and Sandy Baruah, President and CEO of Detroit Regional Chamber, appear on Michigan Matters.
The state of Michigan can do better when it comes to raising the bar on K-12 public education.
A man accused of killing his ex-wife and her husband in Ohio has been charged with their murders.
Several career prosecutors resigned on Tuesday amid the investigation into the fatal ICE shooting of Renee Good in Minneapolis.
President Trump visited Michigan on Tuesday, Jan. 13, speaking to the Detroit Economic Club and touring the Ford factory plant in Dearborn.
Thousands of people are excited to come down to see all of the cars at the Detroit Auto Show. Many of those vehicles have taken a long and historic route to get here.
Snow showers return on Wednesday with colder air.