U.S. adults of all ages trust local news organizations more than information from national news outlets or social media, a recent Pew Research Center study reveals. The majority of Americans (71%) say they have a lot or some trust in local news, but that share is down from a high of 85% in 2019 and 2017.

In contrast, trust in social media has risen to its highest level among adults under 30. Half of 18- to 29-year-olds say they trust information from social media, just under the 56% who trust national news outlets. The percentage of young adults who trust national news is at its lowest level. About a quarter of adults under 30 regularly get their news from TikTok. The share of Americans of all ages who get their news from TikTok (10%) has tripled in the last two years.

U.S. adults over 30 are much less likely to trust information from social media, and Americans 50 or older are more likely to trust national and local news. But political parties are still the most influential factor in Americans’ perception of the media — Democrats (77%) are much more likely to trust national news outlets than Republicans (42%).

Americans are heading into Black Friday sales ready to spend, even as their confidence in the economy drops. 

U.S. consumer spending seemed resilient to inflation in recent months, increasing by 0.6% in September and 6.2% since last year. Retail sales also rose more than expected, up by 1.3% in October, their strongest gain in eight months. That gain was driven, in part, by early holiday sales in October, from retailers like Amazon and Target.

But some retailers don’t expect that spending to last, as steep prices mean consumer dollars don’t go as far compared to previous years. Despite deeper discounts, inflation has pushed the cost of goods like toys and electronics higher than in 2021. Clothing is the only category that is cheaper this year.

About 60% of consumers said that they had already cut spending in response to inflation, while more said they would cut spending next year. That uncertainty was reflected in this month’s consumer sentiment index, which recorded a drop in consumer confidence of 9% —  the first decline since the index’s all-time low in June.

Thanksgiving will be a more expensive affair this year as inflation and the effects of climate change push food — including turkey — costs higher. 

Consumer prices from gas to clothing rose by 7.7% over the past year, the Bureau of Labor Statistics reported this month. Grocery prices rose even higher, with food items 12.4% more expensive than October 2021. Turkey alone costs 23% more than last year, while the cost of staples like eggs, butter and flour has increased by up to 32.5%.

Despite the significant gains over last year, the Consumer Price Index rose less than expected in October. Prices rose 0.4%, the same increase as September, instead of the Dow Jones’ estimated 0.6%. The slowdown has some economists saying that inflation is beginning to moderate, though it is still above the Federal Reserve’s 2% target.

The 2022 World Cup in Qatar, which kicked off November 20, is the most expensive World Cup ever, with costs reaching $220 billion. The expenses included new stadiums, but the majority of the money was spent on new infrastructure like hotels, airports, and a metro system. Tickets are also the highest price they’ve ever been: football fans paid an average of $340 per match, roughly 40% more than for the 2018 tournament.

Host countries like Qatar, Russia, and Brazil hope to balance the cost with this investment in infrastructure, international exposure, and a boost in tourism. Qatar expects more than 1 million tourists to come for the event. But research shows that most mega-sporting events have a zero or negative effect on tourism.

That cost-benefit analysis doesn’t include attracting international attention, but Qatar has drawn international criticism for the human cost of the tournament. Human rights organizations have accused Qatar of exploiting hundreds of thousands of Nepali migrant workers who built the stadiums. Amnesty International reports thousands of those workers died while working in high heat and dangerous conditions, though the exact count is unknown because officials attributed most deaths to “natural causes.”