Name: Midwesterners grapple with rising prices during the holidays
Uploaded: 2025-12-24T00:44:47.399Z
Duration: 3 min 7 s
Description: Recent CBS News polling shows Americans have a bleak view of the state of the economy. CBS News correspondent Lana Zak has firsthand insight into how Americans are dealing with economic pressures this holiday season.

Recent CBS News polling shows Americans have a bleak view of the state of the economy. CBS News correspondent Lana Zak has firsthand insight into how Americans are dealing with economic pressures this holiday season.

Iowa City

CBS News correspondent Lana Zak reports from Iowa City on the financial challenges facing Midwestern families during the holiday season. Despite efforts to cut back, Iowans are projected to spend about 6% more than last year, largely due to inflation outpacing wage growth.

Rising costs for healthcare and utilities are adding further strain, with many residents concerned about unaffordable insurance premiums and higher energy bills. These economic pressures in the Midwest are consistent with trends seen across the United States.

Midwesterners grapple with rising prices during the holidays

Polls are one thing. We wanted to get some firsthand insight into how Americans are dealing with economic pressures this holiday season. So CBS News national correspondent, Lana Zak, joins us from Iowa City. Lana, let's start with holiday shopping. How are families dealing with rising prices at the store? Well, so far, according to the projections, Iowans are expected to spend about 6% more this year than they did last year. But the people are saying that they're actually trying to spend less. It goes to Anthony's point that you just heard about inflation and how that is not keeping pace with people's salaries. So as much as people are trying to pare back during the holidays, we're seeing that here in Iowa, at least, and this is a trend that we see taking place throughout the country, that here in Iowa, people are trying to spend less on the holidays, but they end up spending more because of inflation. One of the issues we've been talking a lot about is healthcare. How are people feeling about rising healthcare costs? Well, and that's exactly it, because there are about three buckets that comprise people's budgets in addition to their real estate expenses. One is the shopping, consumer spending. Another is utilities, and on that we are hearing that prices are going to continue to rise. The other part of it is healthcare. And since the Congress was not able to come up with an effective way to deal with those ACA subsidies, I've spoken to so many people who are really afraid that their premiums are going to jump by $700, $500 and make it simply unaffordable for them. I also want to play a little bit of sound from a doctor here in Clive, Iowa, who summarized things very well. As consumers of healthcare, we are paying more. We are getting less services, and the folks who are providing that care are also getting paid less. And all of that is further biting into people's budgets out here in the Midwest, Lindsey. You mentioned utilities. Another huge concern this winter is energy prices. What are you hearing about that? That's particularly problematic this year in the Midwest and in parts of the West that have seen unseasonably cold temperatures that have started earlier. And the cost of many of those utilities, including energy, is going up. And while Iowa is actually cheaper than a lot of other states, I want to play a bit of sound from Mark Wolf. He's the executive director of the National Energy Assistance Directors Association. Here's what he had to say about that. The real problem is that this is a product that is getting just much more expensive. And I think to plan ahead, because there are no signs of these prices coming down in the next couple of years. So with people concerned that their salaries are just not keeping pace with their household expenses, it is something of a bleak picture. And all of that matches up very well here in the Midwest with what we heard from Anthony Salvato and how the entire nation is feeling, Lindsey. All right, Lana Zak, thank you for your reporting. Good to see you.

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