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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 ...

Russian invasion of ukraine. in the u.s., california, has the most expensive gas, a whopping $6.37. it's been above $6 for more than a week. california is always more expensive because of higher state taxes and emission regulations that require a more expensive blend of gas in california. when it comes to the cheapest gas, georgia is the least expensive at $4.33. states in the midwest and near the gulf coast typically have the cheapest gas. they are closest to america's oil refineries, brianna. >> the list of states that have $5 gas, it seems to just be growing by the day. >> i know. it's almo...

Take to lift a home out of the ground and it paints a picture how devastateing and strong the storm was. take a look at what we see behind us, the devastation will look worse as daylight approaches. >> carley: nicole, live in new orleans, thank you. gas prices hovering near record highs across the country. >> todd: los angeles first to hit average of $6. cheryl casone is here. good morning. >> cheryl: gasoline prices rising at fastest pace on record. march comes in at $4.22, biggest hike since 1970s. prices are not at record highs, but mirrors what drivers were playing in the early 1980s with ...

One month ago, 3.62. now 4.22 per gallon. how much can you truly blame on what's going on in ukraine? >> clearly, coming out of the pandemic, the demand was through the floor meaning people were not traveling so much so the price went way down. that was the result of -- that's what you see in first part of the increase. it's gone up a dollar since the last month. that's because of supply and demand. it's baecause the russian barres have been pulled off the market. >> okay. thank you. >> you bet. the cdc just announced its ending a pandemic era policy that blocked migrants from entering the u...

Absolutely zero when you do nothing to stop it. but over what i found interesting yesterday when i was reading the story the democratic lawmakers want to bring the ceos to capitol hill and basically use it as a political stunt to ask them why they aren't producing energy. back in october, the same democratic lawmakers, the same ceos to capitol hill and i was in the hearing and told them stop producing oil in this country. so, a time to be in the industry that i'm in. >> ashley: i want to talk to the gas prices, $4.22 an hour and that is nothing to celebrate. these prices can be down so much lo...