PBS NewsHour

WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

Americans are refusing to pay high prices. That might deal the final blow to inflation

The Hill

MEXICO CITY (AP) — Analysts expressed shock Thursday at a decision by Mexico’s central bank to cut interest rates on the same day that official figures showed a sharp rise in domestic inflation. Almost without exception, central banks raise interest rates to make money more expensive, in order to discourage price increases.

Analysts shocked as Mexico’s central bank clocks rise in inflation and cuts interest rates

Markets Insider

Stocks jumped after a cool PPI reading for July, setting the stage for consumer price inflation to show improvement when CPI is released Wednesday.

Stock market today: Indexes climb as producer inflation comes in cool

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Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

Stocks rallied Tuesday, moving closer to last month's record levels following the first of two key U.S. inflation reports this week. The producer price index — a measure of wholesale prices — increased 0.1% last month. Economists expected the reading to show a monthly gain of 0.2% in July, in line with the previous month's reading, according to Dow Jones consensus estimates.

Nasdaq closes up 2%, Dow adds 400 points as tame inflation data fuels market comeback

Camden, NJ

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Cornelius, NC

Morristown Minute

CAMDEN, N.J. – Lisa Smith, 61, of Cornelius, North Carolina, has admitted to her role in a fraudulent scheme involving over $3.5 million in Paycheck Protection Program (PPP) loans. U.S. Attorney Philip R. Sellinger announced today that Smith pleaded guilty before U.S. District Judge Karen M. Williams in Camden federal court on July 17, 2024, to a charge of bank fraud conspiracy.

Woman Pleads Guilty to $3.5M COVID Relief Scam

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

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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

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Money Week

Warmer weather and sporting events such as Euro 2024 and the Paris Olympics have pushed up food prices this summer

Food price inflation rises as shoppers celebrate summer of sport

Florida State

Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

Raleigh, NC

Town Talks

Big cities are known for their hustle and bustle, drawing people in who crave excitement, variety, and entertainment. But bigger isn’t always better, or at least not for Raleigh, North Carolina.

North Carolina City Named The Most Boring Town in the State

Provo, UT

Black Enterprise

Americans expect it to average 2.3% over the next three years. Americans have been feeling the impacts of inflation for some time. Now, they’re getting fed up with the higher prices. Consumers are looking for bargains or simply refusing to buy items they feel are too expensive, which economists say could drive prices back to pre-pandemic levels.

Fed Up With High Prices, Consumers Are Helping To Bring Down Costs Associated With Inflation

South Carolina State

Colleton County, SC

Explore Beaufort SC

Some beachgoers were in for a surprise this week when a bizarre looking prehistoric fish washed ashore in Colleton County along Edisto Beach at Edisto Beach State Park. It turned out to be an atlantic sturgeon.

Rare Atlantic sturgeon washes ashore on South Carolina beach

The Current GA

Since 2020, the condition known as long COVID-19 has become a widespread disability affecting the health and quality of life of millions of people across the globe and costing economies billions of dollars in reduced productivity of employees and an overall drop in the work force .

Expert: Long COVID puzzle pieces are falling into place – picture is unsettling

Stocks jumped Tuesday morning as wholesale inflation data rose less than expected, giving investors confidence that inflation is cooling off. The Producer Price Index (PPI), a gauge of wholesale prices, rose by 0.1% in July, below the 0.2% anticipated by economists. Year-over-year, the headline PPI climbed 2.2%, down from June’s 2.7% rise, the Labor Department’s Bureau of Labor Statistics reported.

The Dow closes 400 points higher as wholesale inflation cools

The slower-than-expected deceleration in the UK wage growth supports the case for gradual interest rate cuts by the Bank of England later this year after a quarter-point reduction early this month. Average earnings excluding bonus climbed 5.4 percent in the three months to June from the previous year, slower than...

UK Wage Data Supports Calls For Gradual Rate Cut

Jacksonville, FL

A Black woman may be leading the presidential ticket of a major political party for the first time, but for Jacksonville’s Black conservatives, political values trump a candidate’s personal identity.

Republicans look to shore up support among Black conservatives in Jacksonville

Newark, NJ

NEWARK, N.J. – Nygee Johnson, also known as “Gito,” a 25-year-old member of the Rollin’ 60s Neighborhood Crips, has admitted his role in a racketeering conspiracy. The announcement was made today by U.S. Attorney Philip R. Sellinger. Johnson pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court on July 17, 2024, to a superseding indictment charging him with Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.

Rollin' 60s Crips Member Pleads Guilty to Racketeering

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

South Dakota State

South Dakota saw the second-biggest increase in foreign-born residents in the country in the past decade. For Increasing Number of Immigrants, a 'New Life in America' Starts in South Dakota. South Dakota’s increase of foreign-born population over the past 12 years exceeded the national average by three times, according to...

For Increasing Number of Immigrants, a 'New Life in America' Starts in South Dakota

NewsBreak

Wholesale Inflation Rises Less Than Forecast

Producer prices are now rising at a 2.2% annual pace after July’s 0.1% increase. Inflation continues to fall closer to the 2% target set by the...

Wholesale Inflation Rises Less Than Forecast

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