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.
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.
Economists warned that a barrage of new U.S. tariffs could trigger a renewed bout of inflation. So why aren't prices surging?
For millions of people around the U.S., financial stability amounts to a "rare luxury," Bankrate survey finds.
Roughly a quarter of consumers use "buy now, pay later" loans for ordinary expenses like groceries. That's worrisome, a personal finance expert says.
Consumer spending slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.
The standardbred-Friesian mare is currently undergoing treatment and is believed to be unvaccinated, according to state officials.
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.
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.
The standardbred-Friesian mare is currently undergoing treatment and is believed to be unvaccinated, according to state officials.
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.
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.
Happy Hump Day Fam! Looking at mostly cloudy skies with a few showers and thunderstorms scattered today. High 73°. Tomorrow and Friday a bit of sun, then showers return for the weekend.
Three people were killed when an NBC Los Angeles helicopter crashed in the San Fernando Valley on Tuesday night near the scene of a deadly Metro bus crash in Chatsworth.
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.