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.
For people experiencing homelessness, it is never easy. But with the cold coming later this week, which Southeast Michigan hasn't felt in seven years, the need to help people without consistent shelter is greater.
Experts say keeping your vehicle in good shape can make all the difference.
The Detroit Pistons cruised to a 112-104 win over the New Orleans Pelicans for their fourth straight victory.
Police say a man was pronounced dead. Another man was taken to a hospital for non-life-threatening injuries, and a woman was treated at the scene.
A 47-year-old woman has died following a house fire on early Wednesday morning in St. Clair Township, Michigan, according to the St. Clair County Sheriff's Office.
Dr. Devon Hoover was found dead in the attic of his home in Detroit's Boston-Edison neighborhood in April 2023.
Dangerous cold air is likely to wrap up this week and kick off the weekend in Southeast Michigan.
Experts say keeping your vehicle in good shape can make all the difference.
A nurse who is already under investigation over reported sexual assaults faces multiple charges in five new cases, Wayne County Prosecutor Kym Worthy said.
For people experiencing homelessness, it is never easy. But with the cold coming later this week, which Southeast Michigan hasn't felt in seven years, the need to help people without consistent shelter is greater.
U.S. Secretary of Transportation Sean Duffy, who stopped at the Detroit Auto Show, claimed that efforts by the administration to reverse the Biden-era electric vehicle policies will make cars more affordable again, including rolling back fuel efficiency standards.
On average, drivers in the state are paying $2.96 per gallon for regular unleaded fuel.
The 2026 Detroit Auto Show opened to the public on Saturday. Some people at the show think the Trump administration is doing a good job of making cars more affordable. Others disagree.
The Detroit Auto Show's Charity Preview is Friday night, and CBS News Detroit is taking you there.
The North American International Auto Show in Detroit once dedicated an entire track on its coveted show floor to getting consumers comfortable with electric vehicles and charging.
The James Beard Foundation has announced its 2026 semifinalist list, which includes chefs and venues from Michigan.
The 2026 Songwriters Hall of Fame inductees were revealed on "CBS Mornings" on Wednesday. See the full list.
Milford Independent Cinema has been a staple in its southeast Michigan community for decades.
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.
The Detroit Pistons cruised to a 112-104 win over the New Orleans Pelicans for their fourth straight victory.
Dylan Larkin scored at 3:07 of overtime as the Detroit Red Wings downed the Toronto Maple Leafs 2-1 on Wednesday night.
A Texas jury acquitted a former Uvalde school police officer who was on trial for allegedly failing to act during the massacre at Robb Elementary School in 2022 that left 19 students and two teachers dead.
President Trump said he will not be imposing tariffs against European countries over their objections to his efforts to acquire Greenland.
President Trump moved to fire Lisa Cook from the Federal Reserve Board of Governors last August. Courts have so far allowed her to continue serving in her role while litigation continues.
At certain temperatures and especially with wind chill, health experts said it can take minutes for frostbite or hypothermia to set in.
Officials in Oakland County, Michigan, say they will establish a committee in an effort to strengthen long-term water safety after Legionella bacteria were detected at two different area facilities last month.
While the termination of these substance abuse and mental health service funds is now reversed, the 48-hour rollercoaster is creating uncertainty and distrust from organizations relying on those dollars.
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 Detroit Pistons cruised to a 112-104 win over the New Orleans Pelicans for their fourth straight victory.
Dylan Larkin scored at 3:07 of overtime as the Detroit Red Wings downed the Toronto Maple Leafs 2-1 on Wednesday night.
Tobias Harris scored 25 points and Jaylen Brown missed a jumper just before the buzzer, allowing the Detroit Pistons to hold on for a 104-103 win over the Boston Celtics in a matchup of teams with the best records in the Eastern Conference.
With Cooper Schoenberg and Carter Lutz's respective schools, Indiana and Miami, playing on Monday for the College Football Playoff title, it is putting that bond to the test.
The Lions are set to hire Arizona Cardinals' offensive coordinator Drew Petzing as Detroit's next OC, a source told CBS Sports.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
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.
For people experiencing homelessness, it is never easy. But with the cold coming later this week, which Southeast Michigan hasn't felt in seven years, the need to help people without consistent shelter is greater.
A man charged in the April 2023 murder of prominent Detroit neurosurgeon Dr. Devon Hoover pleaded guilty Wednesday to second-degree murder.
Bitter cold air arrives starting Thursday as temperatures plummet by Friday.
A jury in Texas reached a verdict in the trial of former Uvalde school police officer Adrian Gonzales accused of failing to act during the 2022 shooting at Robb Elementary School.
The bitter cold in Southeast Michigan can not only be brutal on the roads but for cars. Here's what you should know before getting behind the wheel.