CPI report shows the inflation rate rose at a 2.7% pace in November
Economists had expected CPI to rise at an annual rate of 3% last month.
Watch CBS News
Economists had expected CPI to rise at an annual rate of 3% last month.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
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.
A pet store owner in Ypsilanti, Michigan, says a woman stole a puppy with the help of a man on Monday and is asking for the animal's safe return.
A man who shot a Fowlerville, Michigan, resident in the resident's home on Thursday is dead after the homeowner returned fire, the Livingston County Sheriff's Office said.
The Detroit Pistons fell 131-129 Friday night to the Utah Jazz. Keyonte George scored 31 points and hit a floater in the lane with 2.1 seconds remaining for Utah, who snapped a four-game losing streak.
Jeffrey R. Holland was next in line to lead the Mormon church under a long-established succession plan.
Explosions boomed across Kyiv for hours as ballistic missiles and drones hit the city in an attack that began early in the morning.
Oakland County officials say it has taken immediate action after water tests detected Legionella bacteria at the courthouse.
The University of Michigan has hired former longtime Utah football coach Kyle Whittingham to lead the Wolverines.
A pet store owner in Ypsilanti, Michigan, says a woman stole a puppy with the help of a man on Monday and is asking for the animal's safe return.
Ryan Kennedy, along with attorneys, held a press conference on Friday, denying allegations that he made racial comments toward Metcalf during the Dec. 21 game in Detroit.
A man who shot a Fowlerville, Michigan, resident in the resident's home on Thursday is dead after the homeowner returned fire, the Livingston County Sheriff's Office said.
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
A 15-gallon tank of gas will cost Michiganders about $42, which is around $15 less than the highest price drivers paid in July 2024.
Ford Motor Co. has stepped up technology in its popular F-150 pickup to combat ever-evolving techniques car thieves have at their disposal.
The management company of the LaFontaine Automotive Group in Metro Detroit has agreed to pay $1.5 million to settle an alleged Paycheck Protection Program loan fraud.
Slower adoption of electric vehicles was cited as the reason for pending layoffs at GM's Factory Zero.
The band announced Perry Bamonte's death on their official website on Friday.
The "Taylor Swift" bill package, which includes House Bills 4262 and 4263, authorizes the Michigan attorney general to pursue action against anyone using ticket bots.
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
The special features interviews with Kathy Bates, Annette Bening, Albert Brooks, Michael Douglas, Kiefer Sutherland, Jerry O'Connell and Mandy Patinkin.
Jeffrey R. Holland was next in line to lead the Mormon church under a long-established succession plan.
Stocks are mostly flat in quiet morning trading on Friday as investors return from the Christmas holiday.
With President Trump declaring Dec. 26 a federal holiday, here's what's open and closed on Dec. 26.
A single winning ticket was sold for Powerball's Christmas Eve jackpot of $1.817 billion, in Arkansas. It was the second-largest U.S. lottery jackpot ever won.
Traffic safety regulators are reviewing a motorist's complaints that the manual door handles on some Model 3 cars are hard to find, a potential hazard in a crash.
Oakland County officials say it has taken immediate action after water tests detected Legionella bacteria at the courthouse.
President Trump on Thursday signed an executive order to reclassify marijuana. While it might seem like a small move, it opens a new door for the industry as a whole.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Henry Ford Health has announced new labor agreements with registered nurses and radiology technicians at its Rochester hospital.
A Michigan hospital is asking members of the public to raise their flashlights as well as the spirits of children during the holiday season.
The Detroit Pistons fell 131-129 Friday night to the Utah Jazz. Keyonte George scored 31 points and hit a floater in the lane with 2.1 seconds remaining for Utah, who snapped a four-game losing streak.
The university fired ex-coach Sherrone Moore on Dec. 10 for having an "inappropriate relationship" with a female staffer.
Ryan Kennedy, along with attorneys, held a press conference on Friday, denying allegations that he made racial comments toward Metcalf during the Dec. 21 game in Detroit.
Jared Goff and the Detroit Lions have gifted the division rival Green Bay Packers a spot in the playoffs.
Jordan Addison took a jet sweep handoff 65 yards for the game-sealing touchdown with 3:43 left after the Minnesota Vikings forced six turnovers and eliminated the Detroit Lions from contention for the playoffs with a 23-10 victory.
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.
The Detroit show will attract hundreds of thousands to the area as automakers, tech companies and more gravitate to downtown Detroit.
This week on Michigan Matters, Carol Cain speaks with retail owners and entrepreneurs ahead of the holiday season.
The owner of Pet City Pets in Ypsilanti says surveillance video at his store showed a woman stealing a puppy on Monday. He says the two people involved called to apologize and promised to bring the Yorkie back, but the owner says that's not enough.
Legionella bacteria were detected in parts of the Oakland County Courthouse in Pontiac, officials reported on Friday. Plus, other top stories for the evening of Dec. 26, 2025.
Temperatures spike this weekend to near 50 on Sunday as heavy rain arrives.
U.S. safety regulators are investigating some Tesla Model 3 vehicles after a complaint involving the car's door handles. Paul Eisenstein, editor of Headlight.News, joins CBS News Detroit to weigh in.
The University of Michigan hired former longtime Utah football coach Kyle Whittingham to lead the Wolverines, university sources told CBS News Detroit.