Inflation is hitting farms' bottom lines this Thanksgiving
The Farm Bureau says the cost of a Thanksgiving meal is down 4.5 percent from last year, but man Thanksgiving classics have gotten a lot pricier. CBS News’ Jo Ling Kent reports.
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The Farm Bureau says the cost of a Thanksgiving meal is down 4.5 percent from last year, but man Thanksgiving classics have gotten a lot pricier. CBS News’ Jo Ling Kent reports.
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
With the youth unemployment rate at a 70-year low, this year's crop of new graduates is likely to have an easier time getting hired.
The government just released the latest report on inflation. CBS News Business Analyst Jill Schlesinger helps break down the report showing a decline for the first time since June 2021.
Prices rose at the slowest rate in two years amid the Federal Reserve's ongoing series of interest rate hikes.
Experts tell CBS News it's a sign high inflation still has a hold on the economy, despite the Fed's efforts to tame it.
Inflation is heating back up, with the Federal Reserve's inflation gauge rising the highest we've seen in months. Consumer prices continue to rise. Experts tell CBS News it's a sign high inflation still has a hold on the economy, despite the Fed's efforts to tame it. Chicago restaurant owners tell CBS 2's Tara Molina they are getting hit twice.
While inflation overall is improving, the prices for food items like eggs continue to increase at a significant pace.
Consumer prices rose less than expected in November, a sign that inflation is cooling a bit. But costs are still up more than 7% since last year. One of the areas still rising: Food.
Annual holiday feast is likely to see sharply higher prices for turkey and other traditional food items.
Organizers said a Thanksgiving dinner last year cost as little as $12 to put together, but this year's cost will be closer to $20.
Thanksgiving dinner is going to cost more this year thanks to inflation. Rising food costs, coupled with supply chain issues are really putting the squeeze on local food pantries. CBS 2's Lauren Victory visited a community pantry in Woodridge that's facing staggering numbers.
That includes everything from appetizers to desserts sides and beverages.
Interest rates mostly impact those buying cars and homes, but businesses borrow money too, and pass along the costs to consumers.
The Federal Reserve raised its key interest rate another three-quarters of a percentage point as it battles the hottest inflation in decades. The impact of the move on consumers is wide-ranging.
The 10 most popular candy brands have seen an average price increase of 13% since 2021, according to Datasembly.
"In the minutes from the Fed's September meeting, they articulated something very clearly. They said they are much more concerned about doing too little on interest rates and inflation rather than too much,"
With inflation forcing many seniors to cut back on food and medicine, annual cost-of-living hike will boost their income.
The most eyepopping increase: an almost 50% jump on a carton of eggs.
So far this year, the centers have served 2,163 guests. Last year in total, the number was 422.
Ron Gresham is struggling to afford the unit where he keeps awards from working with artists like Earth, Wind & Fire and Boys II Men.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
The Consumer Price Index reports the price of gas skyrocketed nearly 60 percent over the last year – and it's of course far from the only commodity affected.
Inflation hit 9.1 percent over the year in June, which is the highest it has been since 1981.
While the Federal Reserve is trying to pump the brakes on inflation, Papa Willie's BBQ owner Brian Merel said it's already too late for his business.
The video released by COPA Thursday shows Officer Fernando Ruiz jump out of his squad car and immediately start shooting.
The organization used cash donations to buy 20,000 coats from suppliers earlier this year, but they have already handed those out to their different partners.
Little Penelope Lo Destro's parents were about to start their family when there was a terrible diagnosis.
Nearly two weeks ago, Kylie Rodriguez found her cat, Timmy, with a wound on his back. He was unable to stand on all four legs.
Illinois State Police said 42-year-old Abram Perez was shot and killed after firing several shots at police in DeKalb County.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
The reopened Pilsen facility is one of three that Mayor Brandon Johnson promised would reopen by the end of the year.
Anthony Finch has filed suit against the village and Mayor Derrick Burgess for wrongful termination. Now, four trustees want to bring Finch back to the village—but this time working as an auditor.
Judicial regulators have filed a complaint against a former Wisconsin Supreme Court justice who spread election conspiracy theories and was hired by Republicans to lead an investigation into President-elect Donald Trump's loss in the 2020 election, accusing him of violating multiple rules of conduct.
"Some of the steps and measures that are being taken, these are some individuals that are having tantrums right now. It's time to grow up. The people of Chicago don't have time for that," Johnson said.
So far, despite several requests, the woman has not been able to get a hold of her medical records to send to her new doctors.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
Robin McElroy said she loves everything about her Morgan Park home—except for the panic-inducing surprises she has been getting in the mail about her supposedly unpaid taxes.
Scammers often get financial information and personal details, or lure in veterans with videos that claim they can win lots of money,
It's the season of giving, but if you're not careful with finances, you could be getting a hefty bill at the end of the holiday season.
Little Penelope Lo Destro's parents were about to start their family when there was a terrible diagnosis.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
The FDA sent a warning letter flagging "significant violations" of manufacturing regulations for Tom's of Maine toothpaste.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
An attorney representing a conservative prosecutor struggled Monday to convince Wisconsin's liberal-leaning Supreme Court to reactivate the state's 175-year-old abortion ban.
Owner Ricky Burns made a big dream come true in the tiny space on Western Avenue in West Ridge.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
The nonprofit Far South Community Development Corporation is working to create everlasting change—and has a vision specifically for the commercial corridor at 115th and Halsted streets.
Wonder Group, a New York-based food ordering company that touts "fast fine" dining, is set to be Grubhub's new owner.
Foxtrot will be pouring free drip coffee between 6 a.m. and 10 a.m. at the Fulton Market location to celebrate the reopening.
Ravyn Lenae, a rising R&B star from the South Side of Chicago, is among the artists announced Wednesday for the popular California desert music festival.
Speaking to American Theatre in 2018, Vire said he arrived in Chicago as a "lapsed actor," and fell into theatre criticism "through the back door."
"America demanded it and now it's happening: Taco Bell's new Cheesy Chalupa Supreme. In other news, I'm hosting the Oscars," Conan O'Brien said.
The IBA also gave out the Silver Dome Awards at its luncheon Wednesday.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
Police are not using the word “chase” to describe what happened before a stolen Jeep hit another vehicle and a bus in the Washington Park neighborhood. Megan Hickey reports.
The video released by COPA Thursday shows Officer Fernando Ruiz jumping out of his squad car and immediately starting shooting. The man in the car whom Ruiz shot, Raymond Comer, 38, is now paralyzed from the waist down.
The Illinois Supreme Court ruled a special prosecutor's decision to re-indict Smollett violated his constitutional rights after Cook County prosecutors previously dropped charges against him. Sabrina Franza reports.
Solis is considered the prosecution’s star witness in the case against former Illinois House Speaker Mike Madigan.
Chief Meteorologist Albert Ramon has your 5 p.m. First Alert Weather forecast for Thursday, Nov. 21, 2024.
Temperatures rose above freezing areawide Thursday afternoon and will hold steady or even rise further overnight into Friday morning.
The state's highest court ruled a special prosecutor's decision to re-indict Smollett violated his constitutional rights after Cook County prosecutors previously dropped charges against him.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
Police said a stolen car was speeding when it slammed into another car and a CTA bus.
The video released by COPA Thursday shows Officer Fernando Ruiz jump out of his squad car and immediately start shooting.
A judge released Constantin Beldie on electronic monitoring in October, after he allegedly beat and tried to kidnap his estranged wife. He's now accused of killing her weeks later.
So far, despite several requests, the woman has not been able to get a hold of her medical records to send to her new doctors.
The police department has spent $22.6 million in overtime this year for officers working special events — only about $2 million of which has been reimbursed to the city.
Indiana is ranked among the states with the weakest gun safety laws, in part because it does not have a law that requires safely storing firearms.
"How is this possible that so many things could have gone wrong and allowed for this to happen?" Candice Gatlin said.
Will Riley led Illinois (3-1) with 18 points and nine rebounds while Kylan Boswell added 17 and Kasparas Jakucionis had 15.
Zach Lavine scored 27 points to lead Chicago. Torrey Craig added 15, while Nikola Vucevic and Coby White had 14 each.
Morgan went 3-0 with a 1.93 ERA in 32 appearances last season for the AL Central champion Guardians.
Williams and the Bears offense will try to build off the positives in game one this past weekend with Thomas Brown calling plays.
Meyer had five rebounds for the Blue Demons (5-0). Troy D'Amico scored 14 points.
When the girl woke up, the man fled the scene on a rental bicycle, according to police.
Alicia Robles said didn't initially feel the pain because she was still absorbing the situation—and then seconds later, her skin, she said, was on fire.
A judge released Constantin Beldie on electronic monitoring in October, after he allegedly beat and tried to kidnap his estranged wife. He's now accused of killing her weeks later.
Police said the drive-by shooting happened on the 2400 block of South Oakley Avenue around 10:45 a.m.
CTA officials received a disturbance call just before 9:40 a.m. on board a bus near the entrance to the Red Line station along the Dan Ryan Expressway.
