Core inflation — less food and energy — remains slightly higher than the all items index. Marking the first month of sub-3% inflation since March 2021, the headline CPI in July was 2.9%, matching the expectations of most market watchers. Over the 12 months ending July, the all items index increased 0.2% after declining 0.1% in June’s cooler-than-expected reading, today’s release from the Bureau of Labor Statistics shows.

Inflation Slows To 2.9% In July

CBS News

The Labor Department reported Wednesday that consumer prices rose just 2.9% in July, the first time the year-over-year inflation rate has dropped below 3% since March of 2021. However, despite the good economic data, for many Americans monthly expenses such as rent, auto insurance and electricity remain stubbornly high. Jo Ling Kent reports.

Inflation drops below 3% for first time since 2021

Food prices rose by a modest 2.2% in the past year, and while hamburger and pork chops cost more than they did last July, cheese, rice, and potatoes cost less, said the Labor Department on Wednesday. It was the sixth month in a row of low food inflation, and a Purdue survey indicated that inflation-wary consumers believe food prices are moderating.

Food inflation rate is lowest since May 2021

The 10-year U.S. Treasury yield fell slightly Wednesday as investors considered the latest inflation data and what it could mean for the economy and Federal Reserve monetary policy. Yields and prices move inversely, and one basis point equals 1/100th of a percent (0.01%). Treasurys. The moves come after the latest...

10-year Treasury yield move lower as latest inflation numbers come in as expected

Home Depot says consumers are feeling crummy about the economy, and they’re dishing out less to remodel their homes.

Home Depot issues a warning about the economy

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NewsNinja

"They accidentally gave us 2 washers and a dryer when we only ordered 1 of each". Last month, Lowe’s experienced a glitch that lowered the price of its $2,300 Midea jumbo capacity refrigerator to just $169.

‘Lowe’s messed up’: Shopper says they got $2,300 fridge at Lowe’s for just $169

Architecture firm Foster + Partners hopes its masterplan for a revitalized Antakya, the Turkish city ravaged by earthquakes in 2023, can be a blueprint for climate resilience.

An earthquake ravaged this city ‘beyond imagination.’ Now it’s being rebuilt to withstand any natural disaster

Las Vegas, NV

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Bellingham Metro News

LAS VEGAS, NEVADA - A magnitude 4.4 earthquake struck areas near Las Vegas on Tuesday night, according to the United States Geological Service (USGS). The quake, which occurred at 8:06 p.m., was centered approximately 45 minutes from Las Vegas, near Indian Springs.

Magnitude 4.4 Earthquake Shakes Areas Near Las Vegas

The US expressed frustration Wednesday that North Korea is continuing to refuse to allow teams into the reclusive country to recover the remains of American casualties from the Korean War.

US expresses frustration that North Korea is blocking efforts to recover remains of American casualties from Korean War

The colossal iceberg known as A23a has been slowly spinning in one spot of the Southern Ocean since April. Here’s what experts have to say on the phenomenon.

The world’s largest iceberg is spinning in an ocean vortex with no end in sight

The Lens

This year’s area of low oxygen in the Gulf of Mexico is larger than average, the National Oceanic and Atmospheric Administration (NOAA) announced on Thursday. The “dead zone” is approximately 6,705 square miles , as measured last week. Within NOAA’s 38 years of measuring the dead zone, this year’s assessment marks the 12th-largest area of low to no oxygen, which can kill fish and marine life.

Gulf ‘dead zone’ larger than average, larger than expected for 2024, scientists announce

America’s K-12 schools enjoyed a boost of funding from federal pandemic aid packages during the last three school years, but that cash flow is ending in September just as the new one gets underway – forcing some districts to make tough choices about what to cut.

Some US schools are forced to make cuts as pandemic aid ends in September

Sales at US retailers unexpectedly surged in July, the Commerce Department reports, rising by 1% from the prior month, up from June’s downwardly revised 0.2% decline. 

Cue the ‘Hey Big Spender’ music: CNN business anchor reacts to retail report

A seasonal respiratory virus named parvovirus B19 – sometimes also called fifth disease – is increasing in activity, the US Centers for Disease Control and Prevention warned Tuesday.

Common respiratory virus that dwindled during the pandemic is on the rise, CDC warns, with higher risk for certain groups

Ukraine is pushing farther into Russia’s Kursk region after claiming hundreds of square miles of territory. CNN has uncovered online job vacancies for trench diggers in Russia’s Kursk region, as satellite imagery shows a new trench system has been dug in the region. CNN’s Erin Burnett reports.

Russia offers $1,600-$4,000 for trench-digging jobs as Ukraine forces advance

Find out why this Norwegian company’s solar panels are some of the best you can buy in this REC solar panels review.

REC solar panels review: Cost, warranty and efficiency in 2024

The Associated Press

WASHINGTON (AP) — Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.  Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% from June to July after dropping slightly the previous month. Measured from a year earlier, prices rose 2.9%, down from 3% in June. It was the mildest gain since March 2021. The ongoing inflation slowdown could affect the presidential campaign, given that former President Donald Trump has highlighted rampant inflation as a key failing of the Biden administration and its energy policies. Vice President Kamala Harris has said she would soon unveil new proposals to “bring down costs and also strengthen the economy overall.”  The government said nearly all of July’s inflation reflected higher rental prices and other housing costs, a trend that, according to real-time data, is easing. As a result, housing costs should rise more slowly in the coming months, contributing to lower inflation. 

Annual US inflation falls to 3-year low, clearing the way for the Fed to begin cutting rates

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J. Souza

According to cruise industry reports, the world's largest cruise ship is sailing well above 100% capacity, thanks to more beds being filled on recent sailings. Royal Caribbean’s newest flagship, the Icon of the Seas, is proving to be an unprecedented success, with occupancy rates far exceeding expectations.

The Largest Cruise Ship in the World is Sailing at 132% Capacity: How This is Even Possible

TheStreet

Wall Street is looking to consolidate its recent rebound with a muted July inflation report.

Stock Market Today: Stocks higher as CPI inflation report tests Fed rate bets

WashingtonExaminer

Two back-to-back inflation reports showing annual price growth slowing have made it very likely that the Federal Reserve will finally cut interest rates at its next meeting in September. Inflation, as tracked by the consumer price index, fell below 3% for the first time since right after President Joe Biden and Vice President Kamala Harris […]

Inflation dips below 3%

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