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 Flint Township, Michigan, couple is facing multiple charges after dozens of cats and dogs were found inside a home, some of which were found dead.
A Detroit man is accused of abandoning his two dogs and allowing one to freeze to death, Wayne County prosecutors said.
A restaurant celebrating rock music in the era of the legendary band Kiss is set to open in Royal Oak.
Stocks fell sharply on Wall Street on Thursday as oil prices rose further because of the war with Iran.
The Gordie Howe International Bridge between Detroit and Windsor has moved into the "testing and commissioning" stage.
A fatal traffic accident on southbound Interstate 275 early Thursday snarled traffic in the Novi and Livonia areas.
The announcement comes amid criticism of DHS spending under Noem, and as Congress has allowed the department's funding to lapse.
The Gordie Howe International Bridge between Detroit and Windsor has moved into the "testing and commissioning" stage.
A man has died as a result of injuries sustained when he became stuck in a car hauler along Gratiot Avenue in Eastpointe.
A Detroit woman was charged in connection with the fatal shooting of her 6-year-old daughter in a shopping center parking lot.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
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.
A restaurant celebrating rock music in the era of the legendary band Kiss is set to open in Royal Oak.
Six Flags is selling off some of its North America amusement parks, including Michigan's Adventure in Muskegon.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
Faster Horses, a multi-day country music festival, will not return this summer to Michigan International Speedway.
Hillary Knight, Megan Keller and Jack and Quinn Hughes made a surprise appearance during "Heated Rivalry" star Connor Storrie's opening monologue on "SNL."
Stocks fell sharply on Wall Street on Thursday as oil prices rose further because of the war with Iran.
Two dozen states filed a lawsuit challenging President Trump's legal authority to impose new global tariffs.
The announcement comes amid criticism of DHS spending under Noem, and as Congress has allowed the department's funding to lapse.
The House resolution to constrain Trump's war powers failed in a 212 to 219 vote, with four Democrats joining all but two Republicans to kill it.
Officials and activists from across Southeast Michigan were in downtown Detroit on Wednesday, condemning the air strike on Iran.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Water testing has detected "low levels" of Legionella bacteria at two more Oakland County government buildings.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
Henry Ford Health and Teamsters Local 332 remain locked in a labor dispute over a nurses' contract.
Detroit Mayor Mary Sheffield on Monday appointed former Dearborn Public Health Officer Ali Abazeed as Detroit's new chief public health officer.
A woman who worked for former University of Michigan head football coach Sherrone Moore is no longer employed by the school.
NBA Hall of Famer Chauncey Billups and former player Damon Jones are among 31 people charged in the federal case. They have pleaded not guilty.
Holtz coached Notre Dame from 1986 to 1996, winning 100 games with the school, including a 12-0 national title-winning season in 1988.
Jaylon Tyson scored 22 points, James Harden added 18 and the Cleveland Cavaliers avenged a recent loss in Detroit by beating the East-leading Pistons 113-109 despite playing without injured star Donovan Mitchell.
This past weekend was filled with the NCAA indoor track championships, including the Ivy League Championships held at the Nike Track at the Armory in New York City.
As Women's History Month kicks off, Donna Murray-Brown, the new president and CEO of Inforum, appears on Michigan Matters.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
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?
Since the war in Iran started on Feb. 28, six American service members have been killed.
Health and Human Services Secretary Robert F. Kennedy Jr. is challenging Dunkin' and Starbucks as part of his "Make America Healthy Again" initiative. Tom Hanson reports.
Iran has stepped up retaliatory attacks on U.S. allies in the Middle East. CBS News has learned that Arab states say they are running dangerously low on interceptors to take down missiles fired from Iran. Natalie Brand reports.
President Trump said Department of Homeland Security Secretary Kristi Noem would leave her role in March after she's faced intense criticism that came to a crescendo this week.
Rainy conditions today. NEXT Weather Meteorologist Karen Carter tells us when we can expect thunderstorms and warmer temps.