Economy Cooling But Costs Stay High | Louisville News

Inflation’s cooling, but prices are still climbing—3.4% year-over-year—with gas soaring nearly 25%. Wages barely budged at 3.2%, leaving paychecks behind the cost of living. Retail sales dipped in July, partly due to last month’s massive online shopping spree, yet year-over-year spending on clothes, sports gear, and dining is up. Surprisingly, lower-income earners are spending more—even borrowing—but debt delinquencies remain steady. Meanwhile, the national debt nears $40 trillion, costing over $1 trillion annually just to service it, while mortgage rates hit 20-year highs, crushing the housing market. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2689298006cf7fa2