Russia’s war in Ukraine sparked a historic food crisis. It’s not over

London CNN — Grain is once again leaving Ukrainian ports. The price of fertilizer is falling sharply. Billions of dollars in aid has been mobilized. Yet the world is still in the grips of the worst food crisis in modern history, as Russia’s war in Ukraine shakes global agricultural systems already grappling with the effects … Read more

What got really expensive this year, and what got cheaper

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

‘Out of control’: No one knows how much to tip

new York CNN — A new checkout trend is sweeping across America, making for an increasingly awkward experience: digital tip jars. You order a coffee, an ice cream, a salad or a slice of pizza and pay with your credit card or phone. Then, an employee standing behind the counter spins around a touch screen … Read more

Chicken prices are finally starting to fall

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

Restaurant sales are going up. But dining out is on the decline

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

One sentence from the Fed got markets all worked up. Then Powell spoke.

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

Go ahead. Go crazy with avocados. There’s a massive glut and prices are cooling off

new York CNNBusiness — There’s at least one item in the grocery store that’s getting less expensive: avocados. A significant supply of embers of the buttery fruit has triggered a drop in wholesale prices, sending store prices lower as well. With the overall cost of grocery items up a stunning 13% compared to last year, … Read more

Spam’s popularity is on the rise again

new York CNN Business — Spam is cool. The 85-year-old canned block of meat has undergone a cultural reinvention. Hormel (HRL) has sold a record amount of Spam for seven straight years, and 2022 is on pace for another such milestone. The conglomerate behind Skippy and Jennie-O turkey says it can’t make Spam almost enough … Read more

Food prices are soaring, and that’s changed how we eat

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

How political candidates are targeting you on social media based on your music tastes, shopping habits and favorite TV shows

CNN — Marco Rubio hopes to sway voters interested in Chick-fil-A, Ram trucks, and Duck Dynasty. John Fetterman is searching for fans of microbreweries, Teslas, and the Dave Matthews Band. And Michael Bennet wants to reach people who like Taylor Swift and Lizzo – while avoiding devoted listeners of Jason Aldean. Candidates in some of … Read more