![Company Signs](https://assets2.cbsnewsstatic.com/hub/i/r/2023/01/18/e8e4be2b-b55e-4c08-8873-759a43041b24/thumbnail/640x360/c0d17675f995289c8e3681e142889eb8/gettyimages-536074319.jpg?v=5842509bb796a146f9b20d3e8b03dac6#)
Party City files for bankruptcy protection amid rising prices
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
Watch CBS News
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
Although U.S. inflation has cooled from its peak this summer, some food costs remain unusually high.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
Prices reflected the smallest annual increase since October 2021 amid lower costs for gasoline and energy services.
Some people in the market to buy a house said that even though the interest rates are more than double, they would prefer to buy right now as opposed to when the interest rates are low because it was such a buying frenzy.
In the mid-1970s inflation was so high, the president referred to it as "public enemy #1" – and turned to Madison Avenue to come up with an ad campaign and rallying cry, "Whip Inflation Now."
The job market remains strong — a good sign for workers but a blow to the Fed's efforts to cool inflation.
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Almost 4 in 10 of consumers who went into debt expect it will take at least five months to pay off their bills.
The minimum salary people want has risen to 8-year high, reflecting a hot job market and high cost of living, a survey says.
Seniors and other recipients are getting the biggest bump since 1981. But tax and Medicare issues may complicate things.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Punishing inflation is forcing many people to economize this holiday season, while some are skipping gifts altogether.
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
Sharp drop in average gas prices signals that this year's breakneck pace of inflation is cooling.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
Rising inflation could cause tighter budgets for some families as others may wonder how generous they can be.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Thanksgiving dinner will cost a whopping 20% more than it did last year, according to a new survey released Wednesday by the American Farm Bureau Federation.
You might have found the perfect house, but between the price and the interest rate, you're not sure if you should buy.
It's never a great time to carry credit card debt. But right now is arguably the worst time.
Inflation? High gas prices? American gamblers are shrugging them off — and losing money at casinos at a record pace.
Stocks rose in afternoon trading on Wall Street Tuesday as Americans head to the polls to vote in midterm elections that are being heavily influenced by inflation and the threat of a recession.
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
With cost of groceries not slowing down, businesses like Detroit Cookie Co. continue fighting off food inflation.
Donald Trump is courting Black voters and a conservative group popular with white supremacists during back-to-back stops in Michigan.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
The suspect was later found dead by suicide following a standoff at a home in a nearby community, officials said.
Detroit City FC is looking to take a massive step toward its first-ever playoff berth for a women's team.
Detroit City FC returns to Keyworth Stadium this Saturday after a four-game road trip to face off against the 2023 Eastern Conference Champions Charleston Battery.
The suspect was later found dead by suicide following a standoff at a nearby home, officials said.
DTE Energy says there are a few things you can do to keep yourself and your home on the cool side.
A Detroit man and two other people left a restaurant without paying for their food, but a cell phone was left and the man was arrested after he returned to the restaurant.
Donald Trump is courting Black voters and a conservative group popular with white supremacists during back-to-back stops in Michigan.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
The board of General Motors approved another $6 billion share repurchase as the Detroit automaker continues to build momentum in 2024.
United Auto Workers union President Shawn Fain and other union leaders are under investigation by a federal court-appointed monitor, according to a court filing.
Stellantis-owned Chrysler is recalling more than 211,000 SUVs and pickup trucks in the U.S., due to a software malfunction that could disable the cars' electronic stability control systems.
According to officials, users don't have to be a resident of the community to participate in the carshare program, which can be reserved through an app.
Starting at $54,000, the 300-horsepower vehicle with standard supercruise and high-end audio equipment is up for purchase late this year.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
Kensington Palace releases a new photo of Kate as the Princess of Wales offers an update on her cancer treatment and announces a step back into public life.
Taylor Swift's long-running and history-making Eras Tour is coming to an end at the end of the year.
Presented by Bank of Ann Arbor, it's a summer tradition that's marking its 17th year in the city.
Alexander Morris, the lead singer of the Four Tops, filed a lawsuit against a Michigan hospital, a nurse and security guard after he was treated like he was mentally ill after he told them he was in the legendary Motown group.
A heat wave will bring dangerously hot temperatures to the Midwest and Northeast next week.
The Hall of Fame player has been the last 24 years working as a studio analyst for TNT and on Friday he announced that next season will be his last on TV.
An experiment found "small but detectable" amounts of infectious H5N1 virus in milk after it was pasteurized for 15 seconds.
The Supreme Court ruled 6-3 that the Bureau of Alcohol, Tobacco, Firearms and Explosives exceeded its authority when it issued the rule outlawing bump stocks.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
Corktown Health plans to open its second facility in Hazel Park on John R. Road, north of Woodward Heights Boulevard.
The Washtenaw County Health Department had reported 21 cases of whooping cough this year as of June, an increase from the previous three years, according to a report released on Thursday.
An experiment found "small but detectable" amounts of infectious H5N1 virus in milk after it was pasteurized for 15 seconds.
Health officials said hikers should take extra precautions to prevent the spread of illness, including filtering water.
Michigan's largest insurance company said it will begin eliminating coverage of various weight loss drugs next year.
Detroit City FC is looking to take a massive step toward its first-ever playoff berth for a women's team.
Detroit City FC returns to Keyworth Stadium this Saturday after a four-game road trip to face off against the 2023 Eastern Conference Champions Charleston Battery.
The Hall of Fame player has been the last 24 years working as a studio analyst for TNT and on Friday he announced that next season will be his last on TV.
Abby Tamer, an athlete at the University of Michigan, was selected for the 2024 U.S. Olympic women's field hockey team.
Concordia University announced that all athletic programs at its Ann Arbor campus will be discontinued after the 2024-25 school year.
U.S. Rep. Shri Thanedar appears on CBS Detroit's Michigan Matters and talks about the mental health crisis impacting the nation, the fallout of the war in Gaza and his re-election campaign.
Lisa Ford appears on CBS Detroit's Michigan Matters and talks about Michigan Central Station, which her husband, Bill Ford, Executive Chair of Ford Motor Co., decided to bring back to life in 2018.
Hoekstra, who was endorsed by Trump for the Republican leadership position in February over incumbent Kristina Koramo, talked about the faction of the party still loyal to her.
Bud Denker, chairman of the Detroit Grand Prix, appears and talks about the upcoming race later this month, which will mark its second year on the streets of downtown Detroit.
The winner of the Republican and Democratic August primaries will face off in the general election.
The 42-year-old suspect was later found dead by suicide following a standoff at a home in a nearby community.
Authorities said nine to 10 people were shot, and at least one child, an 8-year-old, was in critical condition.
Authorities say nine to 10 people were shot and at least one child, an 8-year-old, is in critical condition. At least four area hospitals are treating victims.
Multiple people were wounded in a shooting Saturday evening at a splash pad in the Detroit suburb of Rochester Hills, authorities said.
Former President Donald Trump returned to Michigan for the first time since his conviction in his "hush money" trial. Trump spoke at a Detroit Church and Turning Point Action's The People's Convention on Saturday.