The Franklin Fire burning in Malibu had torched nearly 4,000 acres and was 7% contained as of Wednesday evening. Thousands of nearby residents remained under mandatory evacuation orders. CBS News correspondent Carter Evans has more.

The annual inflation rate in the U.S. ticked up slightly in November. The Bureau of Labor Statistics reported that the Consumer Price Index for all items rose 2.7% in the past year, which was in line with economists’ expectations. CBS News MoneyWatch correspondent Kelly O’Grady breaks it all down.

Sources have confirmed to CBS News that President-elect Donald Trump has invited Chinese President Xi Jinping to his inauguration in January. The invitation comes despite Trump’s repeated plan to impose massive tariffs on goods from China. CBS News senior White House reporter Jennifer Jacobs has more.