Time for a look at the Business News now with marc ashdown. Hello, this is World Business report, im marc ashdown. We start in the us, where the all important Inflation Data is just out. Prices inched up injuly, but less than expected. The Consumer Price index, a key inflation figure, rose 3. 2 compared to a year ago. It was running at 3 injune, so on the face of it, the pace of price rises has ticked up again. But the markets had expected a bigger increase, so could todays figure be good news . And could it be enough to persuade the Federal Reserve to leave Interest Rates unchanged next month . Lets bring in our north America Business correspondent michelle fleury. Firstly, talk us through the reasons behind this uptick. Inflation had been easing gradually, why has it gone up . Some of this has to do with comparisons of where we were last year and the way the data is compiled but some of it is things like rising Housing Costs and stuff like rising Housing Costs and stuff like that. I
53 according to the latest Statement Released in the last hour from the maui county government. Joe biden has already issued a major disaster declaration and the governor has said it is the deadliest Natural Disaster for generations. Thousands have been forced to leave their homes and hospitals have been treating patients for burns and smoke inhalation. Nomia iqbal has this report. Much of the Hawaiian Island of maui is now scorched earth. A pilot can hardly believe what hes seeing. Oh, my gosh look at the harbour this looks like baghdad or something. The Historic Town of lahaina barely exists anymore. Since the fire began on tuesday, it has ripped through, fuelled by Hurricane Force winds, leaving burnt out cars on once busy streets and instead of historic buildings, there are Smoking Piles of rubble. Everybody still out here, its time to go for anyone still in the town, the message is clear get out. If anybody s still here, the fire is on front street and it is time to go this Satell
Welcome to verified live, three hours of breaking stories, and checking out the truth behind them. We start with apocalyptic scenes in hawaii. Us soldiers have joined search and recovery efforts. At least 36 people are known to have died in wildfires others are still unaccounted for. Large parts of the tourist town of la highna on The Island Of Maui have been burned to the ground. This is what it looke like overnight when flames spread rapidly forcing some people to jump into the sea to escape. Multiple areas have been burnt to the ground and the western side of the island is almost cut off. Officials say, the Hospital System is overwhelmed, with many people suffering burns and smoke inhalation. Our correspondent Richard Galpin has this report. Is anybody still out here . Its time to go these are the desperate calls for people still in the historic City Of Lahaina on The Island Of Maui, as the flames on the marina gets closer and closer. Many neighbourhoods were burned to the ground as
36 dead. Take a look. This is the island of maui. The resort of lahaina. Some reported jump in ocean to escape the fires. Thousands are now staying in emergency shelters. This is the aftermath. Hurricane dora is close meaning those strong winds spread fire. Lets listen to what President Biden has had to say. I lets listen to what President Biden has had to say lets listen to what President Biden has had to say. I want to say a word about the devastating has had to say. I want to say a word about the devastating wildfires has had to say. I want to say a word about the devastating wildfires that | about the devastating wildfires that has claimed at least 36 lies in how i. We havejust approved it major Disaster Declaration for hawaii which will get aid into the hands of people needing help now. Anyone who was lost a loved one, whose home has been damaged or destroyed, will get help immediately. I directed that we serve support to these great firefighters and First Responders and Emergency
Higher housing, cars and food costs but once his take out Core Inflation was 4. 7 , the lowest since october 2021. The good news is that inflation has drifted down from last summers 40 drifted down from last summers a0 year highs but its still well above what the Federal Reserve thinks of as normal prices. With the overall trend heading in the right direction, policymakers may feel that they dont need to raise Interest Rates further. Us central bank, you may recall, raised its benchmark Interest Rate to more than five and a quarter , the highest in 22 years, all in a bid to call the economy and ease the pressure is pushing up prices. Cool. Qualities too early to say mission accomplished, from the white house to wall street there is a sense that progress has been made in the Worlds Largest economy. Chinas e commerce Giant Alibaba reported its strongest quarterly Revenue Growth in almost two years, pushing its us listed shares up by more than a . Earlier this week the latest data shows C