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By Taryn Phaneuf | NerdWallet

It wouldn’t be Easter without colorful eggs and chocolate bunnies. But threats to the supply of these holiday essentials are pushing prices up at a time when shoppers are worn out by years of high inflation.

Here’s a look at why inflation is having an outsized impact on your Easter basket.

Cocoa prices soar with no relief in sight

Chocolate prices have risen nearly 38% since 2020, the year before inflation started heating up, according to NielsenIQ market research data provided to NerdWallet. Recently, price hikes have stemmed from the soaring cost of chocolate’s key ingredient: cocoa.

A series of bad weather events, as well as disease, have devastated cocoa crops in West Africa, where about 70% of the world’s cocoa is grown. As a result, cocoa prices are at record highs.

So far, there aren’t any signs of cocoa prices turning a corner, says Billy Roberts, food and beverage economist with CoBank, a Colorado-based lender specializing in agriculture. Initial reports on next season’s harvest — which occurs in late summer and early fall — aren’t as optimistic as the industry hoped. Until crop yields improve, cocoa prices will likely stay high. read more

By HALELUYA HADERO (AP Business Writer)

NEW YORK (AP) — The Federal Trade Commission is investigating TikTok over its data and security practices, a probe that could lead to a settlement or a lawsuit against the company, according to a person familiar with the matter.

The investigation is the latest battle in Washington for the social media company, which is already fighting against a federal bill that could ban the platform in the U.S. if it doesn’t break ties with its Beijing-based parent company, ByteDance.

In its investigation, the FTC has been looking into whether TikTok violated a portion of federal law that prohibits “unfair and deceptive” business practices by denying that individuals in China had access to U.S. user data, said the person, who is not authorized to discuss the investigation.

The agency also is scrutinizing the company over potential violations of the Children’s Online Privacy Protection Act, which requires kid-oriented apps and websites to get parents’ consent before collecting personal information of children under 13. read more

Gov. Ron DeSantis’ allies and Disney settled lawsuits on Wednesday over who controls Disney World’s governing district, with both sides signaling they’re ready to end a two-year feud.

The Central Florida Tourism Oversight District board voted to accept Disney’s settlement offer, which ends much of the litigation between the company and state officials.

The settlement says development agreements and covenants approved by a Disney-friendly board shortly before the state takeover in February 2023 are null and void. Disney also agreed to drop a lawsuit seeking public records and withdraw its requests.

A 2020 comprehensive plan will be in effect, and the district agreed to “consult with Disney” while reviewing and amending the plan.

DeSantis, who on the presidential campaign trail accused Disney of trying to sexualize children, hinted at reconciliation. He suggested the state would work with Disney on new projects to draw more tourists to Florida.

“A lot of what happened with parents’ rights in education … was really driven by Burbank,” he said, referring to Disney’s corporate headquarters in California. “It was not driven by Orlando. … I think that there is a desire to move forward.” read more

Disney’s first affordable housing project cleared a critical hurdle Tuesday — but just barely.

Just when it appeared Orange County commissioners might turn down a proposed land-use change needed to develop 114 Disney-owned acres into a 1,400-unit multifamily housing project in Horizon West, Mayor Jerry Demings took charge.

At his urging, commissioners voted 4-2 to send the proposed change in the county’s comprehensive land-use plan to Tallahassee for a state review, a mandatory step in the approval process.

Commissioner Nicole Wilson, whose west Orange district includes Disney parks and fast-growing Horizon West, cast a “no” vote on Disney Imagineering’s request for “transmittal.” Commissioner Emily Bonilla also voted no.

“I really wanted to hit the pause button, tap the brakes,” Wilson said after the meeting.

The commission chambers were filled to capacity with advocates of the project wearing green T-shirts bearing the slogan “Build Affordable Housing” on one side and opponents hoisting signs with their own slogans, “From Pixie dust to concrete: Not the Magic we expected” and “Not the Disney dream, just a corporate scheme” on the other. read more

Gov. Ron DeSantis on Tuesday appointed Orlando entrepreneur Craig Mateer to the district that oversees Disney World, filling a spot left open after Chairman Martin Garcia resigned earlier this month.

Mateer is the founder and CEO of CCM Capital Group, which provides hospitality, real estate and logistics services. He also founded the luggage handling business Bags Inc., which he sold for $275 million in 2018.

Mateer, a graduate of Florida State University, has been a generous donor to DeSantis’ campaigns for governor and president and to the Florida Republican Party. DeSantis previously named Mateer to the Greater Orlando Aviation Authority in March 2021 and to the Florida Board of Governors a year later.

The Disney district board is scheduled to meet Wednesday to consider hiring DeSantis adviser Stephanie Kopelousos as its new administrator, replacing Glen Gilzean, whom the governor appointed as interim Orange County elections supervisor on March 4.

The governor, who under state law appoints every member of the oversight board, has recommended that it put Kopelousos into the job, which paid Gilzean $400,000 a year. read more