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Fox Report With Jon Scott

average family is about $2500 pour this year compared with last year. >> that is because of the inflation. when people's paychecks do not keep up with inflation they get poorer, they cannot afford more and by the way the same number was positive 6000 versus negative 2000 -- 2500. when he does siesta look in the camera and asked the american people are you better off today than you were four years ago? for most americans they answer that question right now is no. jon: there are the numbers but overall goods prices since 2021 up almost 19% and real wages down to an half percent. steven moore it's good to have you on, talk to you soon. >> thank you. jon: will back with more fox report right after this. at kubota orange days. it's the year's biggest selection of kubota tractors,

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World Business Report

hours later in the us. what is it going to show us today? we are it going to show us today? - are expecting a modest rebound in inflation december, up zero x 2% after two consecutive months of flat readings in the us and that will be enough to put that headline inflation number up to 3.3% from 3—.1% in november. the good news for the markets and for the fed is that the core measure inflation can take out food and energy we expect that to be up only zero x 2% as well and that will be enough to bring that core measure of inflation down to probably something like 3.8% from 4%. still not at the fed target of 2% but moving in that direction. the number is going to be a pretty mixed bag overall. we think we will continue to see downward pressure on things like goods prices, raw commodity prices and of course energy and

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World Business Report

remember with these reports, they are just forecast, and six months a year ago everyone was saying we would have a potentially very steep recession. we are not talking about that right now, it is slow growth, in many ways it is a much betterfor carson it was. a much better for carson it was. , ., ., ., . was. there is a lot of concern about something _ was. there is a lot of concern about something called - about something called stagflation which is very low growth and inflation that is high. it is composed of that? is there a risk of that here? i think we had a narrative for a while that uk inflation was just higher and sticky, but we started to see recently that it can fall, and that is driven by goods prices falling significantly. we are still seeing a lot of wage increases, and that is keeping up the core levels of inflation. this report and the bank of england and myself, i expect inflation will continue to fall, but it

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World Business Report

that china prices are contracting and it could be lasting for a while as well. how likely do you think it is, though, that china is going to be trapped in a deflationary spiral, the likes of which we saw 20 years or so ago with japan? i think we currently don't see that risk. we don't see that kind of deflation will extend for a long period of time. as i mentioned, actually, china is undergoing a recovery after the reopening. the reopening is not anywhere as strong as anyone anticipated, but it is still a process that china needs to go through. so right now, what we are observing in china is that similar to what happened in the uk or the us, people are switching from spending on goods during the pandemic to services when everything reopens. so as i mentioned, things like hotels, travelling, going to restaurants, those prices are actually going up. so this is actually better than people anticipated. the weakness is actually in food prices and also goods prices. so people spending less on consumer goods and clothes

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Verified Live

that china prices are contracting and it could be lasting for a while as well. how likely do you think it is, though, that china is going to be trapped in a deflationary spiral, the likes of which we saw 20 years or so ago with japan? i think we currently don't see that risk. we don't see that kind of deflation will extend for a long period of time. as i mentioned, actually, china is undergoing a recovery after the reopening. the reopening is not anywhere as strong as anyone anticipated, but it is still a process that china needs to go through. so right now, what we are observing in china is that similar to what happened in the uk or the us, people are switching from spending on goods during the pandemic to services when everything reopens. so as i mentioned, things like hotels, travelling, going to restaurants, those prices are actually going up. so this is actually better than people anticipated. the weakness is actually in food prices and also goods prices. so people spending less on consumer goods and clothes

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Jose Diaz-Balart Reports

consumption expenditures including food and energeticed up just .2% from the previous month. joining joining us now with more is dominic chu. good morning. what does this tell us? >> what this tells us is the fight against inflation is not yet over, but it is definitely moving in the right direction. which is great news for millions of americans, so that so-called core pce, the personal consumption expenditures, if you exclude food and energy, .2% gain between may to june, it gets you to a 4.1% gain between june of last year to june of this year, meaning inflation on a yearly basis rose 4.1% and that is the lowest annualized rate of inflation since september of 2021. it is also a lower annual rate of inflation than the 4.6% that you saw year over year in may. now, if you dig into what drove the price increases, it was generally higher services prices, and lower goods prices,

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Early Start With Christine Romans

that would be more rate hikes and that could tip the economy into recession? >> it depends on how long they are willing to wait. there is a lot of inflation inertia still in the system. what we're seeing is that goods prices, things like used cars, came down -- went up a lot, then they came down really fast. and that has flattered the headline consumer price index. but if you look behind that to services, restaurants, hotels, dry cleaners, things like that, there is still a lot of pent up inflation. demand is really strong. the labor market is really strong in many places. usually when the labor market is this strong and there is that much pent up demand, you get inflation for a while. and i think that the fed expects that. they do not think that they have

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Early Start With Christine Romans

if no deal is reached by july 31st, the teamsters union which represents 340,000 u.p.s. workers has vowed to walk off the job. it would be america's biggest strike in 60 years. more on that in just a moment. a look at the markets, arabian marketing finished mixed. hang seng 2% lower driven by european stocks. european markets are mixed. wall street, futures leaning higher here. the s&p and dow finished higher last week. the dow notching ten straight days of gains. that's not happened since 2017. the nasdaq fell through a falloff of tesla and netflix. goods prices rose a penny $3.60. considerably lower than a year ago. it's a jam-packed summer week for investors be the economic calendar is full here. the fed is expected to raise interest rates this week. and big names in tech reporting earning, meta, microsoft, amazon, alpha best docket.

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BBC News at One

levels. we are seeing more people who are already employed and working full time where there is no option to increase their option. for months it has been — to increase their option. for months it has been higher _ to increase their option. for months it has been higher goods _ to increase their option. for months it has been higher goods prices - it has been higher goods prices bleeding some of the caller is dry, from gas bills, petrol to bread. while the price of services rose only modestly, but that is changing. in the year to march, goods prices rose by 12.8% but in april they slowed, up by 10%. rose by 12.8% but in april they slowed, up by10%. services rose by 12.8% but in april they slowed, up by 10%. services prices were up 6.6% in the year to march, they are now accelerating, up 6.9%. these numbers show there is absolutely no room for complacency in the battle against inflation. food price inflation is still worryingly high. that is why we have had food producers talking about what we can do to reduce the pressure there.— what we can do to reduce the ressure there. ~ ., ., pressure there. the bank of england will know when _ pressure there. the bank of england will know when you _ pressure there. the bank of england will know when you strip _ pressure there. the bank of england will know when you strip out - pressure there. the bank of england will know when you strip out the - will know when you strip out the food and fuel, or the other services, core inflation, is up. it

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Verified Live

are still reeling from one of the fastest rises in food and soft drinks prices since 1978 — up i9.i%. we are seeing an increasing number of people who, once we have gone through a budgeting process with them they've nothing left to pay beyond their household bills. or they are in a negative budget situation. just to confirm, then when you get your £672 for universal credit, £417 pounds of that goes to your rent alone? all different backgrounds, all different income levels. we are seeing more people who are already employed, already working full time where there is no option to increase their income. for months, it's been higher goods prices bleeding some of the charity's callers dry, from gas bills, to, petrol, to bread. while the price of services rose only modestly — but that's changing. in the year to march, goods prices rose by 12.8% but in the april figures they slowed

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