Prices may be starting to fall, but economists are keeping an eye on another troubling number. Tim Walz defends his military record. And Laci Peterson’s murder is back in the spotlight, 20 years after her husband’s conviction.
Here’s what to know today.
Inflation is starting to subside
The high prices that burdened consumers’ wallets after the outbreak of the pandemic may finally be coming down. The Bureau of Labor Statistics will release CPI data for July this morning, and economists are predicting it will show a 12-month reading of 3 percent. The figure would remain unchanged from June, but there are plenty of signs that it is likely to drop soon.
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Many companies have announced they are cutting prices or offering discounts in response to the consumer pullback. Amazon’s CEO said the company is seeing lower average selling prices, while McDonald’s executives said they will continue their $5 meal promotion.
At the same time, gas and grocery prices have already fallen below the US Federal Reserve’s 2 percent inflation target.
But as concerns about rising prices begin to subside, the weakening labor market has led some economists.
Walz defends his military record
Democratic vice presidential candidate Tim Walz defended his military record in his first solo event on the campaign trail. “I firmly believe that you should never belittle another person’s service history,” he said in a speech in Los Angeles.
Walz’s election rival, Ohio Senator JD Vance, has led the attacks against him. Republicans disputed the Minnesota governor’s comments in 2018 when he said he carried “weapons of war” even though Walz had not been deployed to a combat zone during his 24 years in the military. Vance claimed that Walz misrepresented his military record; Walz said he misspoke. Read the full story here.
More 2024 elections:
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Walz will speak at two campaign receptions in Denver and Boston, Vance will speak in Michigan and former President Donald Trump will hold a campaign rally in Asheville, North Carolina. Follow our live blog the latest information on the campaign path.
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With President Joe Biden out of the 2024 race, Republicans in battleground states are urging Trump to reverse his message, NBC News Chief Political Analyst Chuck Todd writes. And so far, Trump hasn’t listened. Read the full analysis.
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The “Divine Nine” as a member of Black Greece, Vice President Kamala Harris he has access to an unused voting pool.
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Trump’s plan to crack down on college campus protests, as laid out in the GOP platform, is to “drive out pro-Hamas radicals.” But he and other Republicans ignore key facts.
Ernesto expeis confirmed as a hurricane
Schools and offices were closed today in Puerto Rico as Tropical Storm Ernesto battered the Caribbean island, which is set to gather strength across the Atlantic to become the third hurricane of the season later this morning.
Ernesto’s maximum sustained winds were near 70 mph as of 5 a.m. Wednesday, the NHC said, not far short of the 76 mph needed for hurricane classification. It continues to draw strength from warm Atlantic waters and “could become a major hurricane within days,” according to the NHC.
A hurricane watch is in place for the British Virgin Islands, while a tropical storm watch is in place for the US Virgin Islands, Puerto Rico, Vieques and Culebra – all of which are popular with tourists. Here’s what else to know.
Politics in a nutshell
Primary results: Minnesota Democratic Republic Ilhan Omar fended off several primary challengersa victory for the progressive “team” after two members suffered losses in their respective primaries this summer. And Trump-backed businessman Eric Hovde won the Wisconsin Republican Senate primarysetting up a critical battleground state race against Democratic Sen. Tammy Baldwin.
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Staff selection: Laci Peterson’s case again in the spotlight
My interest in true crime began in early 2003. There were no podcasts or Reddit threads, but the disappearance of Laci Peterson, a pregnant 27-year-old from California, quickly gripped me and the entire nation. Images of Peterson with a beaming smile, on television shows and in newspapers, have stayed with me for the better part of 20 years. Netflix’s new series deals with his murder a look at the infamous case.- Chelsea Stahlartistic director
In case you missed it
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Israeli Prime Minister Benjamin Netanyahu set new conditionswhich complicated ceasefire talks aimed at freeing the hostages in May, US and foreign officials said.
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Police in Ferguson, Missouri, released body cam and surveillance videos of a man who accused a police officer who was seriously injured in the incident.
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A federal grand jury in Tennessee heard testimony about a hoax to steal Graceland -property from Elvis Presley’s family.
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New research shows how people’s bodies are undergoing dramatic changes in their 40s and 60s.
NBC Select: Online Shopping, Simplified
Trying to eat healthy? Bringing your lunch to work can help with this. Get to know the most popular adult lunch boxes, lunch bags and bento boxes size, insulation and price vary. And if you need help preparing quick, healthy meals at home, HelloFresh might be your answer. An NBC Select reporter tried the meal kit delivery service for a week. Here’s what he thought.
Sign up for The Selection newsletter with hands-on product reviews, expert buying tips and a look at the week’s best deals and sales.
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This article was originally published on NBCNews.com
