Consumer Price Index Dips Below 3%

US consumer prices rose 0.2% in July, bringing the annual inflation rate down to 2.9%. This is the first time inflation has dipped below 3% since March 2021.

Rising rents influenced the CPI, accounting for nearly 90% of the increase. Shelter costs rose 0.4%. Food prices also gained 0.2%, with eggs jumping 5.5%.

Core inflation, excluding food and energy, increased 3.2% year-on-year. This is the lowest rise since April 2021. Despite cooling inflation, concerns remain about rental costs, which make up 36% of the overall CPI.

Markets suggest a 54.5% chance of a 25-basis-point rate cut, as the Fed seeks to stimulate growth.

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$36 Billion Snack Attack: Mars Acquires Kellanova

Mars, the maker of M&M's and Snickers, will acquire Kellanova, which produces Cheez-It's and Pringles, for $36 billion

This all-cash deal values Kellanova at $83.50 per share, about 33% higher than its previous closing price.

Kellanova, created last year after Kellogg's split, generated over $13 billion in sales and employs around 23,000 people.

With this acquisition, Mars will control about 8% of the US snack market, rivaling PepsiCo's 9% share.

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What to Know About 'Slapped Cheek' Virus

The Centers for Disease Control and Prevention (CDC) warns that parvovirus B19 cases are rising in the US.

This virus, commonly known as "fifth disease" or "slapped cheek" disease, is affecting young children.

Parvovirus B19 spreads through respiratory droplets. Symptoms often include fatigue, headache, fever, and a distinctive facial rash that appears later.

Many infections are mild and typically resolve within weeks. However, it can pose serious risks for those with blood disorders and pregnant people, with a 5-10% chance of adverse fetal outcomes.

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FTC Bans Fake Online Reviews

The US Federal Trade Commission (FTC) finalized ban on buying and selling fake online reviews.

This rule targets fraudulent reviews from fake customers, company insiders, and artificial intelligence. It also prohibits the purchase of fake social media followers and intimidation tactics against negative reviews.

Violators face hefty fines of up to $51,744 per infraction. FTC Chair Lina Khan emphasized that fake reviews harm consumers and unfairly disadvantage honest businesses.

90% of online shoppers factor reviews into their purchase decisions.

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