Social Security sets its COLA increase for 2026 at 2.8%
Social Security's annual cost-of-living adjustment is aimed at helping the program's 75 million beneficiaries keep pace with inflation.
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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.
High temperatures and rising electricity costs could boost home energy bills by 6% this summer, a new report says.
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.
Record consumer debt, years of steep inflation and other factors are driving more Americans to considering filing for bankruptcy.
Consumer sentiment fell sharply in April for the fourth straight month as the trade war fuels worries about inflation and employment.
Inflation cooled in March, but economists expect prices to reaccelerate as some of President Trump's tariffs kick in.
The Postal Service contends, as it did last year before a similar increase, that the price hike is needed to achieve financial stability.
The smoky sky over Michigan and Ontario might be alarming – but emergency officials say it's not something to call 911 about.
Orion Township officials said Thursday they detected reduced water pressure on their lines.
The air was so bad early Thursday in Michigan that Detroit was listed as having the world's worst air quality in the IQAir database. Here's what you need to know,
Splash pads, summer school and other community events and programs have been affected by Michigan's poor air quality.
Officials in Toledo, Ohio, say the presence of carbon monoxide was confirmed in a parked vehicle where five people were found unresponsive and three of them died.
The air was so bad early Thursday in Michigan that Detroit was listed as having the world's worst air quality in the IQAir database. Here's what you need to know,
The current air quality in Michigan has doctors, especially cardiologists, concerned for their patients.
Splash pads, summer school and community event schedules have been affected by Michigan's poor air quality. Here's a list of cancellations for Thursday.
The smoky sky over Michigan and Ontario might be alarming – but emergency officials say it's not something to call 911 about.
Orion Township officials said Thursday they detected reduced water pressure on their lines.
Lawmakers in Michigan are working to push legislation that would stiffen penalties on noisy vehicles with exhaust modifications.
As the United States marks its 250th birthday, Ford Motor Company is showcasing more than a century of automotive history in a new exhibit that explores the company's role in shaping America.
The Detroit Auto Show has spent more than a century evolving alongside the auto industry. It has grown from a small, local exhibition into one of the world's premier automotive events.
The Pontiac Star Car Reunion at the Oakland Expo Center features a wide range of vehicles.
President Trump says major automakers Ford and General Motors are in talks with defense contractors about possibly repurposing some plants for weapons production.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
The nominations for the 78th annual Primetime Emmy Awards were announced Wednesday morning in Los Angeles, with the final season of HBO Max's "Hacks" setting a new record for the most nominations in a single year for a comedy series.
Taylor Swift and Travis Kelce were married as they celebrated their wedding with hundreds of guests Friday at Madison Square Garden in New York City.
The Hitsville USA campus is undergoing a $75 million donor-funded expansion that includes a theater, recording studio, and immersive exhibits, with a grand reopening planned for 2027.
Grammy Award-winning rapper and recording artist Ludacris won't be performing at the National Cherry Festival in Traverse City, Michigan, after initially being billed for the event due to an "unforeseen scheduling conflict," according to organizers.
Officials in Toledo, Ohio, say the presence of carbon monoxide was confirmed in a parked vehicle where five people were found unresponsive and three of them died.
Six members of Parliament in Canada are calling for the president of the King's Privy Council for Canada to release the full agreement with the U.S. on the Gordie Howe International Bridge, amid concerns about who would actually benefit from the toll profits.
Lawmakers are one step closer to making daylight saving time permanent after the House passed a bill with overwhelming support.
Heavy smoke from several large wildfires blazing in Canada and Minnesota is engulfing large swaths of the Midwest and Northeast U.S. this week.
Lulgjuraj cites that part of the reason for his campaign suspension was his opponent, Michael Bouchard, receiving an endorsement from President Trump.
The current air quality in Michigan has doctors, especially cardiologists, concerned for their patients.
Smoke from multiple wildfires in Canada and Minnesota is moving over Michigan, eroding the air quality in the state.
Michigan health officials say the state's cyclosporiasis outbreak has now grown to more than 3,700 cases.
Tuesday's reported 3,309 cases are roughly 10 times the number reported on July 2, officials say.
Michigan health officials say the state's cyclosporiasis outbreak has grown to more than 3,300 cases in 55 counties.
The groundbreaking comes just days after the club announced the largest single investment in club history.
Embattled Michigan athletic director Warde Manuel has addressed the latest round of reports about his potential exit from the university, saying he has been fired by social media three times in 10 years.
An amended complaint by former University of Michigan football coach Chris Partridge alleges that school leaders concealed their knowledge of the sign-stealing scheme that was under investigation by the NCAA.
Sophie Shaft is a rising star with USA weightlifting, and she's got the hardware to show for it.
J.T. Realmuto hit a three-run double in the sixth inning and Zack Wheeler struck out 10 in six scoreless innings, helping the Philadelphia Phillies beat the Detroit Tigers 5-0 on Sunday to win their three-game series before the All-Star break.
The Democratic side of the aisle had an intriguing development earlier this week when state Rep. Mallory McMorrow suddenly dropped out of the contest
Former NBA All-Star/entrepreneur Jalen Rose, DTE's Trevor Lauer and Oakland University president Ora Hirsch Pescovitz headline an all-star Michigan Matters episode.
Mark Hollis, COO of Rocket Entertainment and tournament director of the PGA Tour's Rocket Classic, appears on Michigan Matters.
Former U.S. Energy Secretary and Michigan Gov. Jennifer Granholm appears exclusively on CBS Detroit's Michigan Matters.
We're in the throes of the 100 most dangerous driving days of the year as more folks take to the road for vacations.
Southeast Michigan is among the regions noticing an outbreak of cyclosporiasis - an intestinal illness caused by a parasite. Dr. Molly O'Shea discusses the symptoms of the disease and how to prevent it.
Police in Metro Detroit and Windsor are asking people not to call 911 to report the smoke and haze in the sky. The atmospheric conditions are from a wildfire smoke plume drifting from Canada and Minnesota.
All of Michigan is under an air quality alert for Thursday. Michigan Gov. Gretchen Whitmer presents a plan for data centers wishing to develop in the state. Those headlines are among the top stories in the CBS Detroit news brief.
Flames surrounded a train in Ontario, but the workers were able to evacuate safely.
Widespread smoke from wildfires in Canada and Minnesota prompted a statewide air quality alert in Michigan for Thursday. Here's a look at the Metro Detroit forecast.