new York CNN — It’s been a tough year for US consumers, who battled decades-high inflation for the majority of the year and even saw gas prices hit $5 in June. The latest inflation data, not adjusted for seasonal swings, shows price hikes have now slowed to 7.1% for the year through November, after hitting … Read more
new York CNN Business — Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. Strong demand, supply issues and even breeding problems with under-performing roosters kept the pressure on. The supply shortage even had some restaurants, like Wingstop, experimenting with less popular items like thighs. But now conditions … Read more
new York CNN Business — Chain restaurants have been reporting growing sales in the third quarter. But more sales don’t mean more customers. In fact, industry watchers are noticing that foot traffic to restaurants has been falling in recent months. That’s because inflation eats into consumers’ budgets, many have been cutting back on their restaurant … Read more
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. new York CNN Business — The Fed hath spoken. As we discussed yesterday, the Fed’s 75-basis-point move was basically a foregone conclusion. And the central bank delivered, announcing it would raise … Read more
new York CNN Business — Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got … Read more