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.
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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.
The Washtenaw County Board of Commissioners is among those asking for criminal charges to be dropped after a police standoff situation in Ypsilanti.
A life sciences and health laboratory in Ann Arbor will be closed, with 76 jobs ending as a result.
Firefighters were on the scene of a house fire on Chalfonte Street early Tuesday.
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.
Even though the Trump administration eliminated EV tax credits, leaving the company out of $6 billion as of last week, General Motors CEO Mary Barra still believes in electric vehicles.
Despite a $6 billion setback, General Motors CEO Mary Barra says she still believes the future is electric for the automaker.
President Trump is scheduled to speak to the Detroit Economic Club on Tuesday, the nonprofit said Saturday afternoon.
Police are searching for a suspect who they allege fired multiple shots into a home earlier this month in Detroit.
The Washtenaw County Board of Commissioners is among those asking for criminal charges to be dropped after a police standoff situation in Ypsilanti.
A life sciences and health laboratory in Ann Arbor will be closed, with 76 jobs ending as a result.
Even though the Trump administration eliminated EV tax credits, leaving the company out of $6 billion as of last week, General Motors CEO Mary Barra still believes in electric vehicles.
Mayor Mary Sheffield says she grew up attending the Detroit Auto Show. On Monday, she toured the grounds at Huntington Place for the first time as mayor of the Motor City.
General Motors is back on Woodward Avenue. The automaker's world headquarters is now at Hudson's Detroit.
President Trump is scheduled to stop in Southeast Michigan on Tuesday, speaking to the Detroit Economic Club and touring Ford's Rouge Center.
For the first year, Charity Preview Junior is kicking off the Detroit Auto Show festivities.
Here is everything you need to know about how to watch and stream the 2026 Golden Globes.
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."
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
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.
The Supreme Court hears arguments today on whether laws in Idaho and West Virginia banning transgender athletes from competing on girls' and women's sports teams violate the Constitution and Title IX.
Democratic Sen. Mark Kelly filed a lawsuit against Defense Secretary Pete Hegseth seeking to block the Pentagon's efforts to downgrade his retirement rank and pay.
Walmart said expanding its drone delivery service will make it easier for customers to get access to groceries and other items.
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.
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.
Kawhi Leonard scored 26 points and John Collins added 25 as the Los Angeles Clippers rallied to beat the short-handed Detroit Pistons 98-92.
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.
The Detroit show will attract hundreds of thousands to the area as automakers, tech companies and more gravitate to downtown Detroit.
There are new calls among Washtenaw County authorities to drop charges that resulted over a police standoff in Ypsilanti.
President Trump's national security team will meet Tuesday at the White House on Tuesday to options about the situation in Iran. CBS News has this report.
Detroit Fire Department was on scene of a house fire on Chalfonte Street early Tuesday.
President Trump is making a visit to Metro Detroit that includes speaking to the Detroit Economic Club and a visit to a Ford plant. Here's a preview of the visit and what to expect during the day.
Breezy and mild today with a slight chance of wintry mix in the morning followed by scattered light rain showers. Temps around 44 by afternoon a bit breezy, wind 10-15 gusts to 30 mph. Snow showers Wednesday and Wednesday night as arctic air moves into the region. Accumulations between a dusting and 1 inch for most locations, with temps falling through the day. More snow expected for the weekend.