![Consumer Price Index Reporting Latest Inflation Numbers Released](https://assets2.cbsnewsstatic.com/hub/i/r/2024/07/24/57360591-a9ca-4336-b238-4709078c5583/thumbnail/640x360/f79c2b5eea2cff9e19a7212a5042d329/gettyimages-1537700284.jpg?v=5501038cbc281520ff9fdc308faab7dc#)
Rents are cooling off, bolstering Fed's case for cutting rates
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Watch CBS News
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Chipotle CEO Brian Niccol said the company is addressing portion sizes after finding 10% of its locations were skimping.
Consumer spending helped drive growth despite cost-of-living expenses that have spiked across the country.
Although Donald Trump vows to bring U.S. prices down "very quickly," some economists say his policies could rekindle inflation. Here's what to know.
Auto insurance has gone up 19.5% since June of last year, according to the latest Consumer Price Index data. The reason? Getting T-boned by inflation.
The latest consumer price data furthers the case for an interest rate cut by the Federal Reserve as soon as September.
These charts track the prices consumers are paying for groceries and other goods now compared to the cost five years ago, as inflation lingers.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Prices excluding food and energy rose at an annual rate of 2.8% in April as inflation eased after flaring earlier this year.
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
Robust corporate profits and steady U.S. economic growth are driving stocks to record highs.
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The hotter-than-expected inflation reading could cause the Federal Reserve to delay interest rate cuts, analysts said.
Discount grocery giant Aldi expects to build more stores in the Midwest, Northeast and select U.S. cities
The high cost of food both at home and in restaurants continues to be a sore spot for millions of U.S. households.
Americans can expect ebbing inflation and a strong job market this year, according to the National Association for Business Economics.
This Valentine's Day, more people may have opted for a romantic meal at home. The new U.S. inflation report shows that food prices across the board are still stubbornly high, but restaurant prices are climbing faster than grocery store prices.
U.S. Treasury Secretary Janet Yellen touted a strong economy and believes inflation is returning to normal levels while making several stops across Detroit on Wednesday, including NewLab at Michigan Central.
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Bartender Catey Regis's pricey misadventure of buying a used car recently speaks to why voters are worrying about the U.S. economy going into this year's presidential election.
Police said the suspect in the fatal shooting of a Melvindale police officer stole a boy's bike from a backyard. On Friday, police replaced it.
The Michigan Supreme Court has overturned a 2006 murder conviction in the death of an infant.
A Michigan man has died after his motorcycle collided with an SUV on Friday in Ann Arbor.
Federal judges have given final approval to new boundaries for several Detroit-area state legislative seats.
After 57 years of waiting, relatives of three young Black men who were killed by police during the 1967 Detroit riots are getting the recognition they deserve.
Police said the suspect in the fatal shooting of a Melvindale police officer stole a boy's bike from a backyard. On Friday, police replaced it.
The man arrested in the fatal shooting of Melvindale police officer Mohamed Said was arraigned Thursday.
The Michigan Supreme Court has overturned a 2006 murder conviction in the death of an infant.
A Michigan man has died after his motorcycle collided with an SUV on Friday in Ann Arbor.
Federal judges have given final approval to new boundaries for several Detroit-area state legislative seats.
Stellantis CEO Carlos Tavares pledged action to tackle problems in North America and elsewhere after reporting a plunge in first-half earnings.
Ford will make its F-Series Super Duty pickups at a plant in Ontario, Canada beginning in 2026 in order to keep up with customer demand for the vehicle.
The Biden administration is awarding $1.7 billion to 11 "shuttered or at-risk" facilities in Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia, to bolster electric vehicle production.
Throughout the next year, dozens of new zero-emission buses will be hitting the pavement in the city of Detroit, all thanks to a $30.8 million federal grant.
The company said the temporary layoffs will impact about 1,600 workers for the month of July.
Hundreds of the nation's top athletes will represent Team USA in Paris at the 2024 Olympics.
The last surviving original member of the Four Tops has died.
Connor Stalions is set to share his side of the story from an alleged sign-stealing scheme within Michigan's football team before the Wolverines went on to win the national championship.
Bob Newhart, who starred in the long-running sitcoms "The Bob Newhart Show" and "Newhart," has died at age 94.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks," "Only Murders in the Building" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
Federal judges have given final approval to new boundaries for several Detroit-area state legislative seats.
Multimillionaires are much happier than the merely well off, suggesting life satisfaction continues to improve the wealthier you are.
Former Kansas City Chiefs defensive lineman Isaiah Buggs has been convicted on two counts of misdemeanor animal cruelty charges.
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
Former Sangamon County Sheriff's deputy Sean Grayson has been charged with first-degree murder in Massey's death.
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
Local businesses around Metro Detroit are taking the initiative to make their facilities more sensory-friendly.
Gov. Gretchen Whitmer has signed a law that would make it easier for people to be released from Michigan prisons if they're in debilitating health.
The now-recalled Diamond Shruumz gummies had been sold legally, but testing found they contained an illegal controlled substance.
Citing suspected links to a listeria outbreak, Canada's health agency has issued a recall notice for 18 plant-based drinks sold under the Silk and Great Value brands.
Former Kansas City Chiefs defensive lineman Isaiah Buggs has been convicted on two counts of misdemeanor animal cruelty charges.
Michigan and Washington shared the field at Big Ten Media Days on Thursday.
Hulk Hogan visited Detroit Lions practice and says coach Dan Campbell would have been good in the squared circle.
Hundreds of the nation's top athletes will represent Team USA in Paris at the 2024 Olympics.
This is what you need to know about when the 2024 Paris Olympics start and end, along with key games and events on the schedule.
With a red-hot election season on and 2024 past the halfway point, the focus is on business.
Gardner-White is a 112-year-old family-owned furniture retailer, and Stewart is the first female to serve as CEO of the company.
It's a focus on our physical well-being as we talk about the importance of oral health and its impact, particularly among children.
U.S. Energy Secretary Jennifer Granholm and U.S. Transportation Secretary Pete Buttigieg appear on CBS Detroit's Michigan Matters this Sunday.
The University of Michigan's Ross School of Business is celebrating its 100th anniversary this year.
Early in-person voting begins Saturday in Michigan for the primary election. In November 2022, Michigan voters approved a constitutional amendment that gave them the right to early and in person.
A Michigan man has died after his motorcycle collided with an SUV on Friday in Ann Arbor.
LGBT Detroit hosted its biggest fundraiser of the year to celebrate 30 years of advocacy. Friday's event featured the organization's new documentary, which highlighted some of the organization's biggest accomplishments over the past 30 years.
Music icon Janet Jackson is on the second leg of her "Together Again Tour," and one person by her side on the stage is a Detroit native. Dancer and choreographer Dario Boatner joined CBS News Detroit to talk about his career and being on the tour.
We are approaching back-to-school season, and Focus: HOPE's early learning program is helping kids get their minds in motion. Waymond Hayes, director of early learning at Focus: HOPE, joined CBS News Detroit to discuss the program.