CPI rose at 3.4% pace in August, raising odds of Fed rate hike this month
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
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The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.
The CPI report was in line with economists' expectations, marking the second consecutive month with cooler price pressures.
The typical American's paycheck has grown faster since 2019 than in any stretch since the early 1980s. But prices climbed nearly as fast, swallowing about 80% of the wage increase.
Here's what employees can expect for a raise in 2027 as companies move away from broad-based pay increases.
Economic activity weakened between April and June as energy costs surged, new government data shows.
Thirty percent of respondents said they shoplifted this year, with most citing affordability concerns and financial hardship.
Lower gasoline prices slowed inflation in June, though many household costs remained stubbornly high.
A quarter of working-age adults use credit cards to purchase groceries but struggle to repay their debts, a new study finds.
Inflation continued to rise in May, with the Personal Consumption Expenditures price index rising at an annual rate of 4.1%.
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
Economists expect the Consumer Price Index this week to show U.S. inflation continuing to rise due to higher energy costs.
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
The impact of higher energy prices and fears about covering monthly bill is taking a toll on public sentiment, a new Gallup poll finds.
Economists say Americans should expect elevated prices at the pump and rising grocery costs in the months to come.
The chain's North American operator forecast it will open 205 stores in 2026, although those openings will be outpaced by a series of closures.
The cost of ground beef in the U.S. has soared in recent years and is forecast to jump even further in 2026. What gives?
Inflation rose at an annual rate of 3.3% in March, driven by the sharpest monthly increase in gas prices since 1967.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Economic forecasts show that this week's March Consumer Price Index could show prices climbing at their fastest pace in nearly two years.
Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
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.
A Macomb County man is accused of stomping on the head of a kitten and killing it.
Detroit Metro Airport ranks second highest in passenger satisfaction among the biggest airports for a third consecutive year in the J.D. Power North America Airport Satisfaction Study.
A Southeast Michigan man accused of murder in the deaths of his three sons waived his arraignment and the case is set for pretrial in Lenawee County.
A 3-month-old baby was rescued from a bedroom after police and firefighters discovered a working house fire in Monroe.
The Mid-American Conference says it will move to a nine-game conference schedule in 2028.
Republican Mike Rogers is defending his decision not to attend a Sept. 15 televised event in the U.S. Senate race, saying he never agreed to participate and accusing the moderator of favoritism.
The Oakland County Sheriff's Office is investigating the death of a 3-year-old boy who was killed in a shooting on Tuesday in a Pontiac home.
A 3-month-old baby was rescued from a bedroom after police and firefighters discovered a working house fire in Monroe.
Diesel and gas prices jumped again in Michigan and the U.S. in the past 24 hours, with diesel costs smashing previous records.
A federal lawsuit says the University of Michigan wrongly denied in-state tuition to the son of a Foreign Service officer and a USAID employee who declared Ann Arbor as their permanent home while stationed abroad.
Tony Stewart Racing unveiled a special Dodge livery on Tuesday at Stellantis' North America headquarters in Auburn Hills, Michigan.
The spike in prices has also sparked differing opinions among drivers about who's to blame.
A Ford contract employee was taken to a hospital following an incident on Monday morning at the Michigan Assembly Plant in Wayne, Michigan.
Automotive expert Paul Eisenstein of Autoline TV said the number of vehicles recalled this year has surged.
Woodward Dream Cruise participant Mike Holmes, who showed off a DeLorean at Saturday's event, said the " human interaction is just as much fun as driving the car."
Aaron Rowe, Beoga, Lukas Graham and Finneas all released statements Tuesday on Instagram saying they were withdrawing from Ed Sheeran's tour.
Dearborn Mayor Abdullah Hammoud told rapper Macklemore he's "always welcome in Dearborn" after venues on Ed Sheeran's stadium tour refused to include him.
There are plenty of Halloween-themed events to choose from this fall in Metro Detroit. Here's a list.
The Romeo Peach Festival, which one visitor described as a celebration of "peach everything!" wrapped up on Monday. Here's a look at the food and activities.
Bruce Campbell, an actor and filmmaker widely known for his work in "The Evil Dead" franchise, says his cancer prognosis indicates he has about five years to live.
The previous votes have failed to stop President Trump from waging war with Iran.
The Republican says the event was a town hall he never committed to and was never on his schedule. He also faulted the moderator, saying you can't hold a "two-on-one event in a TV studio."
Spencer Torkelson hit a three-run homer, Drew Anderson pitched five shutout innings and the Detroit Tigers won their sixth straight game by thumping the Toronto Blue Jays 10-1.
Aaron Rowe, Beoga, Lukas Graham and Finneas all released statements Tuesday on Instagram saying they were withdrawing from Ed Sheeran's tour.
Car ownership costs have soared 50% since 2020, according to new economic data. Here's where motorists are getting dinged.
A new four-legged team member is already making an impact on students at Polk Elementary School in Dearborn Heights.
Over the last six years or so, the DNR has been installing these viewers at different parks across Michigan, basically one by one.
The presence of ricin in a substance linked to an apartment complex in Hastings, Michigan, has been confirmed, the Barry-Eaton District Health Department said Saturday, two days after a potential exposure to the poison was reported.
Affordable Care Act recipients in 30 states are set to receive the $500 checks starting in October. Here's why.
Health officials say ricin is a natural poison that comes from the beans of the castor plant or oil. It is harmful if swallowed, injected or breathed in.
The Mid-American Conference says it will move to a nine-game conference schedule in 2028.
Spencer Torkelson hit a three-run homer, Drew Anderson pitched five shutout innings and the Detroit Tigers won their sixth straight game by thumping the Toronto Blue Jays 10-1.
The Detroit Red Wings will start training camp this week with leaders of the front office and the team in limbo.
Tony Stewart Racing unveiled a special Dodge livery on Tuesday at Stellantis' North America headquarters in Auburn Hills, Michigan.
The Detroit Lions know they are asking a lot of star running back Jahmyr Gibbs.
At the top of the list is the open U.S. Senate contest between Democrat Abdul El-Sayed and Republican Mike Rogers.
The Detroit Regional Partnership, which has been around for six years, has been a significant catalyst, helping bring numerous jobs and companies to the region.
The roundtable talks politics, civility and issues that will resonate this fall in various elections.
As we count down the final days of summer, there's still a wee bit of time left to grab a good book as you head to the beach or maybe your backyard.
Rachel Stewart previews the upcoming America's Thanksgiving Parade presented by Gardner White, which will celebrate its 100th anniversary in 2026.
Hot Sam's is downtown Detroit's oldest men's clothing store. The retailer has introduced a new line of modern leisure attire and is presenting the first pieces in that set.
A gym class policy for Lakeview High School in Macomb County's Lakeview Public Schools spells out how girls are to handle opting out of swim class on days when they are menstruating. CBS Detroit learned that the district plans to meet with the parent who raised questions about the rules.
The Belle Isle Ballfield at Belle Isle Park is getting renovations and updates that include a scoreboard, new bleachers and custom-designed dugouts. CBS Detroit has this look.
More than 400 students who attend the Detroit Lions Academy in Detroit got a warm welcome back to class on Tuesday with backpack giveaways and representatives from the Detroit Lions organization.
The National Transportation Safety Board will investigate after a news helicopter owned by the NBC station in Los Angeles crashed while on assignment to cover a deadly bus crash. Two of those killed were the news crew on the flight. CBS News has this report.