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The new year. if you can believe it. and as we prepare to close out 2022, it's been a big year for the economy. we saw record gas prices, the fastest jump in decades, and massive tech layoffs. even farewell to the choco taco. our own brian cheung has a look back at the year's biggest business news. >> inflation picked up steam over the beginning of 2022, clocking in at 9% in june. the fastest pace of price increases since the 1980s. food prices soared. a gallon of milk now averaging $4.22. chicken, a $1.84 a pound. and a dozen grade a eggs $3.59 a dozen. all more expensive than this time last ...

If we look at fresh boneless chicken breast, weighted average, it was $3.50 early summer peak. now it is down to 95 cents per pound. that is a change. a change of 75%. a drop of 75%. it's part of the reason why places like popeye's are introducing new chicken sandwiches. now they are able to afford a lot more chicken to be able to give to the consumer. >> makes sense. all right. let's switch 207 eubgs here. nfl quarterback matt ryan made history books today. but not for the reason he would want, right? >> no, not for the reason he would want. now we can say matt ryan, quarterback for the india...

Braess since the middle of the summer. it is now under $1 a pound. it was closer to $3.50 a pound in the summer. now americans are eating chicken much more than they used to. >> what does this mean for the chance for recession? >> okay. oftentimes you will ask me and i will say, okay, i have the answer. i have no idea on a recession. literally no clue why. look at all these different forecasts. they all vary significantly. some forecasters put the chance of recession below 50%. some put it above. the truth of it is i give a shrug emoji to the camera. i'm not sure. >> you're giving a shrug emoj...

Pump. prices are the same level they were in february before russia invaded ukraine. according to the aaa, the nationwide average is now under $3.50. and price tracking company gas buddy predicts it could drop below $3 by christmas and the federal reserve gave an update on the the plans to bring down inflation. jerome powell said smaller interest rate hikes are likely and could start later this month. powell acknowledged that inflation is showing signs of slowing but he needs to see more consistent evidence that it is. and isn't that, senator, where americans are really struggling. because if ...

To choose around £25 worth of food. there's no shame in not having enough money to live on, you know. it's not your fault. if people are hungry, theyjust come here and we'll feed them. we just try and make it a little bit of an event for people. so the half hour that they spend here, if you forget about the woes, it helps. and i've had people come up to us and go, "feels like a day out to us." that's why you hear us just laughing and joking with everyone, just to try and create the right atmosphere. tesco says following the closure of jack's in walton, customers are now served by a superstore...