Inflation eased in May with prices rising less than expected
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Watch CBS News
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.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
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.
The hotter-than-expected inflation reading could cause the Federal Reserve to delay interest rate cuts, analysts said.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
Discount grocery giant Aldi expects to build more stores in the Midwest, Northeast and select U.S. cities
Americans can expect ebbing inflation and a strong job market this year, according to the National Association for Business Economics.
The high cost of food both at home and in restaurants continues to be a sore spot for millions of U.S. households.
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.
"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.
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.
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.
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
If faced with a sudden loss of income, more than half of Americans say they worry they wouldn't have enough savings to cover a month's living expenses.
The U.S. housing market slumped badly last year amid surging mortgage and a dearth of affordable properties, new data shows.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
The Federal Reserve's preferred measure of inflation fell last month in another sign that prices are easing.
Consumer's snapped up Costco's new gold bar offerings, contributing to the company's strong earnings last quarter.
A guilty plea to manslaughter was entered over a fatal assault at a Detroit gas station last summer.
More than 100 animals were rescued, and the remains of 99 others found, during an animal welfare investigation in St. Clair County, Michigan.
Oakland County Executive Dave Coulter focused on key issues, including housing affordability, healthcare access and transportation.
Surging global oil prices due to the Iran war are leading to a spike in gasoline costs for U.S. motorists.
Economists had forecast a gain of 60,000 jobs last month. The unexpected drop was due to job losses in health care and the federal government.
More than 100 animals were rescued, and the remains of 99 others found, during an animal welfare investigation in St. Clair County, Michigan.
The National Weather Service has issued a marginal risk (Level 1 of 5) for severe weather across southeast Michigan for Friday night.
Officers are investigating a shooting that injured one person Thursday night in the parking lot of Henry Ford St. John Hospital.
One lawyer says she was shocked when she was asked to remove her bra while trying to enter the North Lake Processing Center in Baldwin, Michigan.
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."
Surging global oil prices due to the Iran war are leading to a spike in gasoline costs for U.S. motorists.
Economists had forecast a gain of 60,000 jobs last month. The unexpected drop was due to job losses in health care and the federal government.
The time change known as daylight savings is set to start for 2026, meaning most Americans will lose an hour of sleep when they "spring forward" on Sunday, March 8.
Victor Wembanyama had 38 points, 16 rebounds and five blocks and the San Antonio Spurs never trailed in completing a sweep of Detroit, beating the Pistons 121-106 on Thursday night.
One lawyer says she was shocked when she was asked to remove her bra while trying to enter the North Lake Processing Center in Baldwin, Michigan.
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.
Victor Wembanyama had 38 points, 16 rebounds and five blocks and the San Antonio Spurs never trailed in completing a sweep of Detroit, beating the Pistons 121-106 on Thursday night.
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.
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?
It's Girl Scout Cookie season, and Ray's Ice Cream in Royal Oak has some new flavors inspired by the tasty treats.
We're celebrating Foodie Friday with Detroit's Good Cakes and Bakes.
Police are investigating a shooting altercation that happened Thursday night between a suspect and security staff at a hospital parking lot in Grosse Pointe Woods.
The murder case in the death of Dee Warner has gone to a Lenawee County jury. Testing has begun at the Gordie Howe International Bridge. Those headlines, other top stories and weather are in our news brief.
The head of the U.S. Postal Service warns the agency could run out of money in a year unless Congress steps in.