Inflation slowed to 6.5% in December from a year ago
Prices reflected the smallest annual increase since October 2021 amid lower costs for gasoline and energy services.
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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.
Every time Amy Johnson turns on the water, she is thinking about her water bill. It's $13,000. How is that even possible?
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Former U.S. Ambassadors John Rakolta Jr. and David Fischer appear on CBS 62's "Michigan Matters" this Sunday to talk about their time in those diplomatic jobs and how they ended up helping the Abraham Accords get signed.
The Michigan State Police says it's investigating a rollover crash that stemmed from a rear-end collision in Detroit on Saturday night.
The Allen Park Police Department in Michigan has shared information about a missing person who was last seen early Thursday.
Two police officers in Highland Park, Michigan, were injured in a crash involving two of the city's own patrol cars, the Michigan State Police said Sunday morning.
President Trump criticized Team USA freestyle skier Hunter Hess after he and other American athletes at the 2026 Winter Olympics shared their thoughts on U.S. politics.
Lindsey Vonn, who came out of retirement to compete in the Milano Cortina Games, is in stable condition after her crash.
Barbecue lovers are trying to save an iconic Detroit business in danger of closing for good on Sunday.
Two police officers in Highland Park, Michigan, were injured in a crash involving two of the city's own patrol cars, the Michigan State Police said Sunday morning.
Fire Chief Joseph Murray says they were in contact with the driver and are not aware of any injuries.
The Michigan State Police says it's investigating a rollover crash that stemmed from a rear-end collision in Detroit on Saturday night.
The Allen Park Police Department in Michigan has shared information about a missing person who was last seen early Thursday.
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.
The winter storm that brought snow to Southeast Michigan on Sunday didn't stop car enthusiasts from leaving their homes for the final day of the 2026 Detroit Auto Show.
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
Chuck Negron, a founding member of Three Dog Night whose lead vocals powered a string of hits for one of the top rock acts of the late 1960s and early '70s has died. He was 83.
Many Super Bowl 60 ads are already online, along with teasers for commercials that will be unveiled during the NFL championship on Feb. 8.
Lindsey Vonn, who came out of retirement to compete in the Milano Cortina Games, is in stable condition after her crash.
Savannah Guthrie released a new video on Saturday, saying her family is willing to pay for the safe return of their mother.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
Daniss Jenkins scored 18 points in his last game as a two-way player and the Detroit Pistons routed New York 118-80 on Friday night to end the Knicks' winning streak at eight games.
Two Metro Detroit representatives are among those sponsoring a bill that calls for a 32% tax on any wireless device purchased for someone age 17 and younger.
The Oakland Community Health Network will now be taking over that responsibility amidst a financial dispute between the two organizations.
Legionella testing at Oakland County government facilities has detected the bacteria in the water systems of two additional buildings.
When the temperatures plummet, and the snow starts piling up, most of us have the same instinct: retreat indoors, crank up the heat, and get cozy.
Planned Parenthood of Michigan has started to offer vasectomy services in Grand Rapids, with plans to expand the procedure across the state.
President Trump criticized Team USA freestyle skier Hunter Hess after he and other American athletes at the 2026 Winter Olympics shared their thoughts on U.S. politics.
Lindsey Vonn, who came out of retirement to compete in the Milano Cortina Games, is in stable condition after her crash.
Terrance Gore, a former outfielder and three-time World Series champion known for his blazing speed on the base paths, has died at 34 years old, according to Major League Baseball officials.
Ryan's father led the Jets from 2009-14, including back-to-back appearances in the AFC Championship Game.
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
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?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
Huntington Place CEO Bryan Crowe and his team have been preparing to welcome hundreds of thousands of visitors to the Detroit Auto Show this week.
Detroit Pistons President of Basketball Operations Trajan Langdon said he took some calls ahead of the NBA trade deadline on Thursday. CBS News Detroit's Rachel Hopmayer reports on the only move the team made and why the organization has confidence in their core players.
Another cold night before warmer air moves in
Investigators were back at the home of Nancy Guthrie on Friday, nearly a week after she went missing. They were seen taking a closer look at the roof of her house and at a car in Tucson, Arizona. Andres Gutierrez shares details about the ongoing search for the mother of "Today" show co-host Savannah Guthrie.
Parks Old Style Bar-B-Q in Detroit's North End neighborhood is in danger of closing after 60 years of business. Veronica Ortega spoke to people who lined up outside in cold conditions to give patronage to the business.
Hundreds of students stepped into the spotlight at Cass Technical High School on Saturday for the Detroit Public Schools Community District Spelling Bee. Teachers say the competition is about more than just spelling.