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Consumer prices rise 6.3% in July as inflation eases

WASHINGTON — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked.

US wholesale inflation fell in July for 1st time in 2 years

WASHINGTON — Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy’s inflationary pressures cooled last month.

Biden to call for suspension of gas taxes

President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — an election year move meant to ease financial pressures at the pump as the public is increasingly concerned about high gas prices and inflation.

US ends COVID-19 testing requirement for international travel

The Biden administration is lifting its requirement that international air travelers to the U.S. take a COVID-19 test within a day before boarding their flights, easing one of the last remaining government mandates meant to contain the spread of the coronavirus.

Fed attempts to tame inflation with most aggressive rate hike in 22 years

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.

Ex-Strip casino executive appeals conviction in college bribery case

Gamal Abdelaziz, a former Strip casino executive, and John Wilson argued in appeals filed Monday that they believed they were making legitimate donations, not bribes, to get their children into elite universities.

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