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New York Post
23-04-2025
- Business
- New York Post
Here's how much Costco's hot dog combo would cost today — if accounted for inflation
Costco customers relish in the low price of the beloved hot dog and drink combination — and rightfully so. Spending just $1.50 on a soda and a hot dog is unheard of these days, and the wholesale store famously hasn't changed the price since 1985. That price isn't likely to go up any time soon since it's such an appeal to the brand, and the store makes a bulk of its profit from other areas, such as grocery sales and membership fees. Advertisement Costco has famously not raised the price of its $1.50 hot dog and soda combo since 1985. Olga – As Phil Andrews of @maxinomicsmb, a YouTube channel that explores spending habits, previously noted, 'that 50 cents is peanuts compared to the ten minutes your partner will spend wandering around while you eat it.' And let's be frank, Costco doesn't want any beef with its loyal members. Advertisement But if the retailer did increase the price for inflation, that $1.50 hot dog and soda combo would cost you $4.55, just over three times as much, according to the U.S. Bureau of Labor Statistics' official inflation calculator. Originally, Costco's hot dogs were made by Hebrew National, but demand was so high that they took matters into their own hands to control costs. In 2008, they started producing their own hot dogs, supplying the food courts with the all-beef Kirkland Signature hot dog as well as selling them in bulk in the refrigerated section of the store. Advertisement Compared to how much people spend just walking through Costco, any money lost on not increasing hot dog prices to account for inflation is ultimately pennies in their pockets. If Costco accounted for inflation, the hot dog combo would cost just over three times as much. AFP via Getty Images Andrews explained previously that from the moment someone walks into a Costco, they're set to spend about $1.75 per minute — and the average person spends about 37 minutes wandering around Costco, which will bring the shopper to spend about $64.75. 'Every square foot of floor space at Costco will do $1,900 in sales, 40% more than in 2019 — after adjusting for inflation,' he said in September 2024.
Yahoo
02-04-2025
- Business
- Yahoo
Michigan sees first expansion of unemployment benefits in over 20 years
An expansion of Michigan's unemployment benefits takes effect Wednesday, bringing a boost to payments and an increase to the length of time workers in the state can receive them. In December 2024, Gov. Gretchen Whitmer signed into law legislation making the changes to Michigan's unemployment benefits. For new claims filed starting Wednesday, the weekly maximum unemployment benefit will go up to $446 from $362, where it has stood since 2002. In 2002, $362 had the same buying power as $642.42 in February 2025, according to the U.S. Bureau of Labor Statistics' inflation calculator. Under the new law, the weekly maximum unemployment benefit will increase to $530 in 2026 and $614 in 2027. In later years, the law requires the state treasurer to adjust the benefit amount to reflect the change in the Consumer Price Index, a measure of price changes. The new law also increases the benefit amount for each dependent of an unemployed Michigan worker from $6 to $12.66 a week per dependent. The benefit amount will increase to $19.33 in 2026 and $26 in 2027. Subsequent increases will be tied to inflation. Unemployed workers can claim the dependent benefit for up to five dependents, according to the Michigan Department of Labor and Economic Opportunity. Michigan lawmakers voted on the legislation in December 2024, and Whitmer signed it into law that month. But state lawmakers did not vote to have it take effect immediately, slating it to kick in instead on April 2. But the text of the legislation approved by Whitmer says the increase to Michigan's unemployment benefit amount takes effect Jan. 1, 2025. The Unemployment Insurance Agency (UIA) plans to carry out a review of claims filed between Jan. 1 and April 2 to determine which unemployed workers qualify for the higher benefits, a labor department news release states. "If a claim qualifies for increased benefits, UIA will pay the difference to the claimant," reads the release. Nick Assendelft, UIA communications manager, said in an email only some may receive the maximum weekly benefit increase of $84. "Not everyone will get the full amount since how much they are eligible to receive is determined based on each person's situation and wage history. The increase on a case-by-case basis will be only for the weeks between Jan. 1 and April 2, not for weeks when someone was collecting benefits before Jan. 1," he said. But an unemployed worker who filed a claim earlier this year will not be eligible for the new maximum 26 weeks of benefits, up from the current 20 weeks. The new benefit timeline only applies to new claims filed starting Wednesday. The labor department's news release directs claimants to keep an eye on their Michigan Web Account Manager account for updates and recommends ensuring the bank account and address information is current. "If UIA sends a request for information, respond by the stated deadline and use only official forms from UIA to facilitate timely actions on a claim," the release states. In 2011, Whitmer's Republican predecessor — Gov. Rick Snyder — signed legislation cutting the maximum number of weeks unemployed people could claim benefits for from 26 to 20 weeks. Until the new law took effect Wednesday to restore the 26 weeks of unemployment benefits, Michigan was one of a dozen states offering unemployed workers fewer than 26 weeks of unemployment insurance, according to the Center on Budget and Policy Priorities, a Washington, D.C.-based think tank. Every Democratic lawmaker voted for the legislation to expand Michigan's unemployment benefits. Three Republicans joined them: state Sen. Ed McBroom, of Waucedah Township, state Rep. Dave Prestin, of Cedar River, and state Rep. Greg Markkanen, of Hancock. Those GOP lawmakers all hail from Michigan's Upper Peninsula and represent counties in the state with some of the highest unemployment rates, according to the latest figures from the Michigan Center for Data and Analytics. More: Trump tariffs trigger jitters for auto stocks, Michigan economy Those seeking assistance with a claim or with other questions can call customer service at 866-500-0017, 8 a.m. to 4:30 p.m., Monday through Friday. The state labor department in a news release also directed those interested in meeting with an agent to schedule an in-person, phone or virtual meeting up to 14 days in advance at Contact Clara Hendrickson: chendrickson@ or 313-296-5743. This article originally appeared on Detroit Free Press: Michigan sees expansion of unemployment benefits
Yahoo
12-03-2025
- Business
- Yahoo
Atlanta area ranked 20th for inflation impact among major US metro areas
A new study looking at the effects of inflation on major metropolitan statistical areas found Atlanta was ranked 20th. However, while it's a big number, the study by WalletHub said that means the impacts to the city were actually lower than the rest of the areas in the peer group. The most recent measure of inflation in the United States was 2.8% in February, according to the U.S. Bureau of Labor Statistics' Consumer Price Index. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] To get to the bottom of which major metros were feeling the price of inflation the hardest, WalletHub compared them across the CPI's changes in the past two months compared to changes in the past year. For Atlantans, the data showed they'd seen a 0.7% increase in costs in the past two months and 2.1% in the past year, since February 2024. TRENDING STORIES: Woman's body found in Newton Coutny lake, ex-boyfriend charged in her death Passenger attacks flight attendant, swallows rosary beads on flight from Savannah to Miami: FBI Threat of widespread severe weather this weekend By those measures, Atlanta was near the bottom in terms of actual impacts on consumers by price changes. For where Americans are seeing costs rise the most, it's predominantly in housing. "Shelter costs have been a big driver of inflation. Rents spiked after Covid, and it's taken a long time for them to decelerate," Dr. William Kuttner, Williams College professor of economics, said. 'Partly that's because it's hard-wired into the data: the rent component of the CPI includes all existing leases, and so it will stay high for some time even as rents on new leases fall." [SIGN UP: WSB-TV Daily Headlines Newsletter]
