Prices may be starting to fall, but economists are keeping an eye on another worrying 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 you should know today.
Inflation is starting to decline
The high prices that have been putting pressure on consumers’ wallets since the start of the pandemic may finally be starting to ease. The Bureau of Labor Statistics will release Consumer Price Index data this morning for the month of July, and economists predict it will show a reading of 3% over 12 months. This number would remain unchanged from June – but there are many signs that there will likely be a downward trend soon.
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Many companies have signaled they are lowering 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 extend their $5 meal promotion.
Meanwhile, gasoline and food prices have already fallen below the 2% inflation rate target set by the Federal Reserve.
But as concerns about rising prices begin to ease, a weak job market makes some economists nervous.
Walz defends his military record
Democratic vice presidential nominee Tim Walz defended his military record during his first solo campaign event. “I firmly believe that you should never denigrate another person’s record of service,” he said during his speech in Los Angeles.
Walz’s electoral rival, Senator JD Vance of Ohio, led the attacks against him. Republicans took issue with the Minnesota governor’s comments in 2018 when he said he carried “weapons of war,” even though Walz has not been deployed to a combat zone in his 24 years of military service. Vance claimed that Walz misrepresented his military record; Walz said he misspoke. Read the full story here.
More 2024 election coverage:
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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 to find out the latest news about the campaign.
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With President Joe Biden out of the 2024 race, down-ballot Republicans in swing states are encouraging Trump to pivot his message, writes NBC News chief political analyst Chuck Todd. And so far, Trump isn’t listening. Read the full review.
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As a member of the black Greek organization “Divine Nine”, Vice President Kamala Harris has access to an untapped voting block.
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Trump’s plan to crack down on protests on college campuses, as laid out in the Republican Party platform, is to “deport pro-Hamas radicals.” But he and other Republicans are ignoring important facts.
Ernesto Expandted to strengthen in a hurricane
Schools and offices were closed today in Puerto Rico as the Caribbean island was hit by torrential rain from Tropical Storm Ernesto, which is expected to gain strength over the Atlantic and become the third hurricane of the season later this morning.
Ernesto’s maximum sustained wind speed was near 70 mph at 5 a.m. Wednesday, the NHC said, not far from the 76 mph needed for a hurricane classification. It will continue to draw strength from the warm waters of the Atlantic and “could become a major hurricane within a few days”, according to the NHC.
A hurricane warning is in effect for the British Virgin Islands, while a tropical storm warning is in effect for the US Virgin Islands, Puerto Rico, Vieques and Culebra – all popular with tourists. Here’s what else you should know.
Politics at a glance
Primary results: Democratic Rep. Ilhan Omar of Minnesota fended off several primary opponentsa victory for the progressive “squad” after two colleagues suffered defeats in their own primaries this summer. And Trump-backed businessman Eric Hovde won Wisconsin Republican primary for Senatesetting up a critical statewide race against Democratic Senator Tammy Baldwin.
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Team pick: Laci Peterson case returns to the spotlight
My fascination with true crime began in early 2003. There were no podcasts or Reddit threads, but the disappearance of Laci Peterson, a pregnant 27-year-old California woman, quickly gripped me and the country. Photos of Peterson with a beaming smile, plastered across television shows and newspapers, have stayed with me for nearly 20 years. With Netflix’s new series about her murder, we take a look back at the infamous case.- Chelsea Stahlart director
In case you missed
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Israeli Prime Minister Benjamin Netanyahu introduced new conditions that complicated ceasefire negotiations aimed at freeing hostages in May, U.S. and foreign officials said.
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Ferguson, Missouri police released body cameras and surveillance videos of a man who appears attacking a police officer who was seriously injured in the incident.
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A federal grand jury in Tennessee heard testimony about a scam to steal Graceland property from Elvis Presley’s family.
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New research shows how people’s bodies undergoes dramatic changes in their 40s and 60s.
NBC Select: online shopping, made simple
Trying to eat healthy? Bringing lunch to work can help with this. Check out the top adult lunch boxes, lunch boxes and bento boxes varying in size, insulation and price. And if you need help preparing quick, healthy meals at home, HelloFresh could be your answer. An NBC Select reporter tried the meal kit delivery service for a week. Here’s what she thought.
Sign up for the Selection newsletter for practical product reviews, expert shopping tips, and insight into the best deals and sales each week.
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This article was originally published in NBCNews. with
