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Inflation is down, but consumers still struggle. And, Medicare to lower drug prices
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Today's top stories
Inflation in the U.S. fell to its lowest level in more than three years last month, according to the Labor Department, making it more likely that the Federal Reserve can bring interest rates down in next month’s meeting. Gasoline, air fares and used car prices are down in the last year. But even though economists have been waiting to see these falling rates, not everyone is happy.
- 🎧 On Up First, NPR's Scott Horsley breaks down the difference between inflation rates and "inflation vibes." There are still plenty of complaints as people continue to see housing costs rise rapidly. Even though supermarket prices have been stable for the last year, they’re up more than 25% since before the pandemic. The Fed is also keeping a close eye on the unemployment rate, which has been creeping up. The job market had been strong for a long time, which meant the Fed could focus on getting inflation under control. Now, it has to be careful that high interest rates don’t put more people out of work.
The U.S., Egypt and Qatar are set to mediate a new round of talks to end the war in Gaza today. Several rounds of cease-fire talks in the past few months have ended in an impasse between Israel and Hamas. The war is in its 11th month and has killed nearly 40,000 Palestinians. It started after a surprise Hamas-led attack on Israel last October killed around 1,200 people in Israel. This round of talks is based on a three-phase proposal that President Biden laid out on May 31 calling for a cease-fire, the release of Israeli hostages and Palestinian prisoners and Gaza's reconstruction. Hamas says it will not participate because it already responded to Biden's plan with a counterproposal in July. Israel sent a high-level delegation to participate in the talks. Here's everything you need to know about today's negotiations.
- 🎧 One of the sticking points has to do with what happens after the six-week cease-fire in the first phase of Biden's proposal, NPR’s Kat Lonsdorf says. Israel wants the ability to resume the war if it feels Hamas is prolonging the talks. Hamas wants a guaranteed end to the war. Mediators said in a statement last week they were aware of the differences and were ready with a final proposal to bridge the remaining issues. The recent assassinations of a Hamas leader in Tehran and a senior Hezbollah official in Beirut have added additional pressure. Israel has been bracing for retaliation from Iran and its proxies, and many are worried about the potential of an all-out regional war.
The White House is set to announce new, lower prices for 10 blockbuster drugs after months of negotiations between Medicare and pharmaceutical companies. Prices will be lowered for drugs that treat arthritis, cancer, diabetes, heart failure and more. In a press call ahead of the announcement, Health and Human Services Secretary Xavier Becerra said if the negotiated prices were in effect in 2023, Medicare would have saved $6 billion and beneficiaries would have saved $1.5 billion in out-of-pocket costs. The negotiated prices will go into effect in January 2026.
Today's listen
When is the right time, if ever, to make jokes about violence that’s killed tens of thousands of people? For Palestinian American Sammy Obeid, the time is now. The 40-year-old former math teacher turned stand-up comic weaves the Israeli-Palestinian conflict into his act. He grew up in California where his family would tell him stories about the occupied West Bank, Gaza and Israel. Some listeners could find his jokes upsetting or may feel uncomfortable, but that’s intentional.
- 🎧 Listen to some of his jokes and learn why he relishes the discomfort and tension that comedy creates.
Picture show
During the pandemic, a new fear literally sprouted in metro Phoenix. A record-hot summer toppled the area’s mighty saguaro cactuses at a rate that alarmed casual observers. But experts say it’s not the old cactuses people should be worried about. Human-caused climate change is preventing the conditions needed for baby saguaros to take root and thrive.
- 📷 See photos of the saguaros and read about how researchers are trying to save them.
3 things to know before you go
- Jewels stolen during a multimillion-dollar heist in 2019, and recovered a few years later, are back on display at the Grüne Gewölbe, or Green Vault, in Dresden, Germany.
- Disney wants to throw out a widower's wrongful death lawsuit after a doctor died from an allergic reaction at a Disney World restaurant. The company says the case should be handled outside of court because of a clause in the fine print of a Disney+ trial the plaintiff signed up for years earlier.
- Japan’s Prime Minister Fumio Kishida announced he will step down next month, signaling possible political uncertainty for one of the U.S.’ closest allies in Asia.
This newsletter was edited by Suzanne Nuyen.
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