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We speak to Daniel who has been cured of sickle cell [TheTopNews] Read More.26 mins ago - Falling gasoline prices drive biggest monthly drop in inflation since 2020
But with renewed hostilities with Iran, the relief could be temporary By Mark Huffman of ConsumerAffairs July 14, 2026 Consumer prices fell 0.4% in June, the biggest monthly decline since the early months of the pandemic, as gasoline prices posted their steepest drop in more than six years.Annual inflation slowed to 3.5% from 4.2% in May, while core inflation, which excludes food and energy, was unchanged for the month and eased to 2.6% year over year.Consumers received relief at the pump, but food and housing costs continued to edge higher, showing that inflation pressures remain uneven across the economy.It may not feel like it, but consumer prices declined sharply in June. Sharply lower gasoline prices more than offset continued increases in food and shelter costs, providing the biggest one-month drop in inflation since the early months of the COVID-19 pandemic.The Consumer Price Index (CPI) fell 0.4% on a seasonally adjusted basis in June after rising 0.5% in May, according to the Bureau of Labor Statistics. It was the largest monthly decline since April 2020, when widespread economic shutdowns pushed prices lower. Over the last 12 months, the CPI increased 3.5%, down from the 4.2% annual inflation rate recorded in May.The primary reason for the decline was energy. The energy index fell 5.7% during the month, with gasoline prices plunging 9.7%. The drop in energy costs more than offset increases in food and shelter, making energy the largest contributor to the overall decline in consumer prices.Core inflation, which excludes the volatile food and energy categories and is closely watched by the Federal Reserve, was unchanged in June after increasing 0.2% in May. On an annual basis, core inflation slowed to 2.6% from 2.9% the previous month, suggesting underlying price pressures continued to moderate.Food prices still risingFood prices continued to rise, though at a modest pace. The overall food index increased 0.2% in June, matching May's gain. Grocery prices also rose 0.2%, led by a 4.3% jump in egg prices and a 1.2% increase in dairy products. Meat, poultry, fish, and eggs rose 0.6%, while cereals and bakery products increased 0.3%.Some grocery categories became less expensive. Nonalcoholic beverages fell 1.5% as coffee prices dropped 2.0%, and fruit and vegetable prices declined 0.2% during the month. Restaurant prices continued to climb, with the food-away-from-home index rising 0.2%.Shelter costs, one of the biggest contributors to inflation over the past several years, rose just… [TheTopNews] Read More.34 mins ago - Chemical Tanker Stolt Magnesium Hit by Explosion off Omani Coast, Manager Says
The chemical tanker Stolt Magnesium caught fire on Tuesday following the “explosion of an unidentified external device” as it was sailing in the Arabian Sea off the coast of Oman, according to its manager Stolt Tankers, the main unit of … [TheTopNews] Read More.35 mins ago - From deflation fears to sticker shock: Why America’s cost of living has ch...The good old days were not that long ago By Mark Huffman of ConsumerAffairs July 14, 2026 Twenty-five years ago, economists worried that prices might stop rising altogether. Today, consumers face housing, healthcare, insurance, and grocery bills that have climbed much faster than wages in many cases.The change wasn't caused by a single event. A series of structural shifts including the pandemic, supply chain disruptions, labor shortages, housing shortages, and government stimulus combined to end an era of unusually low inflation.The economy has shifted. Many economists say the U.S. economy has moved from a world where globalization kept prices down to one where supply constraints and geopolitical tensions make inflation more persistent. Twenty-five years ago, the Federal Reserve had a problem that seems almost unimaginable today: it was worried prices weren't rising enough.Following the technology boom and into the early 2000s, inflation remained remarkably subdued despite a strong economy. After the 2008 financial crisis, those concerns intensified as policymakers feared deflation a broad decline in prices that can discourage spending, reduce business investment, and make recessions worse. The Fed kept interest rates near zero for years and repeatedly struggled to push inflation up to its 2% target.Fast forward to today, and Americans are living in a very different economic landscape. While inflation has slowed from its 2022 peak, the cumulative increase in prices since the pandemic has permanently raised the cost of living, leaving many households wondering what changed.Economists point to several major shifts.Globalization stopped holding prices downOne of the biggest differences between the early 2000s and today is globalization.For decades, American companies increasingly sourced products from low-cost countries, particularly China. Advances in technology, global shipping, and international trade created fierce competition that kept prices low for everything from electronics to clothing.Researchers at the Bank for International Settlements and the International Monetary Fund have found that globalization, lower import prices, and increased competition were important reasons inflation remained unusually subdued during the 1990s and early 2000s. That trend has weakened significantly.Companies have begun diversifying supply chains, governments have imposed tariffs on some imports, and geopolitical tensions have encouraged businesses to manufacture closer to home. Those changes improve supply chain resilience but often come with higher costs.The pandemic changed everythingCOVID-19 delivered perhaps the largest inflation shock in decades.Factories shut down, shipping networks became clogged, semiconductor shortages slowed production, and consumers suddenly shifted spending from services to physical goods. At the… [TheTopNews] Read More.36 mins ago
- Buying a foreclosure could save thousands, but homebuyers should watch for hidde...Foreclosures are selling for 27% below market values By Mark Huffman of ConsumerAffairs July 14, 2026 Foreclosed homes are selling at steep discounts, with the typical property fetching 27.2% less than its estimated market value, according to Realtor.com. The savings can come with added risks, including costly repairs, title issues, and lengthy buying processes that require careful due diligence. Foreclosure listings have climbed to their highest level in six years, giving bargain hunters more options but also more competition. During the financial crisis and resulting housing market crash, many people were able to buy foreclosed homes at rock-bottom prices. That opportunity may be reappearing, though not nearly to the same scale as the 2009-2010 period.A new Realtor.com report shows that the median foreclosed home sold for 27.2% below its estimated market value, making these properties among the biggest discounts available in today's housing market. At the same time, foreclosure listings have risen to their highest level in six years, accounting for 1.3% of all homes for sale in April 2026. Despite the increase, housing economists stress that the market is not showing signs of a foreclosure crisis."Foreclosures are normalizing, not accelerating into a crisis," said Joel Berner, senior economist at Realtor.com. The unusually low foreclosure rates seen during the pandemic were driven by foreclosure moratoriums, mortgage forbearance programs, and rapidly rising home values that gave many homeowners enough equity to avoid losing their homes. As those temporary factors have faded, foreclosure activity has gradually returned to more typical levels. Bargains attract plenty of attentionThe discounts have not gone unnoticed.According to the report, foreclosure listings received 26.5% more online views than the average home listing during the first half of 2026, even though they remained on the market about 11 days longer than conventional listings. The longer selling time reflects the unique challenges associated with distressed properties, which often require additional inspections, financing approvals, or legal steps before a sale can close.What buyers should look out forWhile a foreclosure may appear to be a bargain, experts caution that buyers should carefully evaluate the true cost of the purchase.Among the most important considerations:Property condition: Many foreclosed homes have been vacant for months or even years. Deferred maintenance, vandalism, water damage, and outdated systems can result in expensive repairs.Inspection limitations: Some lenders sell foreclosed properties "as is," and buyers may have limited opportunities to negotiate repairs.Title issues: Unpaid taxes, liens, or legal… [TheTopNews] Read More.41 mins ago
- 7 frugal habits that actually move the needleSimple changes that can have a big impact on your budget By Kyle James of ConsumerAffairs July 14, 2026 Skip the gimmicks. The biggest savings often come from avoiding impulse purchases, tracking your spending, and reviewing recurring bills not tiny "money hacks."Spend with intention. Buy used when possible, learn a few basic DIY skills, and reduce food waste to keep more money in your pocket without sacrificing quality of life.Build habits, not budgets you can't keep. Small, consistent changes are far more likely to save you thousands over time than extreme frugality.Scroll through social media and you'll find no shortage of "money-saving hacks." Skip your morning latte. Reuse sandwich bags. Unplug your toaster.While those tips may save a few dollars, they often miss the bigger picture.People who consistently build wealth usually don't rely on one dramatic trick. Instead, they develop everyday habits that reduce waste, prevent impulse spending, and help them make smarter decisions with their money.Here are seven frugal habits that can actually make a meaningful difference in your budget.1. Pause before buyingImpulse purchases are one of the biggest budget killers. Whether it's a late-night Amazon order or an item you spotted on social media, giving yourself time to think can dramatically reduce unnecessary spending.Many financially savvy shoppers follow a simple rule: leave the item in your online shopping cart for at least 24 hours before buying it. For larger purchases, consider waiting a full week.More often than not, you'll realize you didn't really need it.Pro tip: Create a "Want List" on your phone. If you still want the item after a few days (and it fits your budget), you'll know it's a thoughtful purchase instead of just another impulse buy.2. Track every dollar for one monthYou can't improve what you don't measure. Many people are surprised when they see how much they're actually spending on takeout, subscriptions, convenience store stops, or online shopping.You don't need complicated budgeting software. A simple spreadsheet, notebook, or budgeting app works just fine. I realize it sounds obvious, but finding places to cut back is only possible when you know where your money is actually going every month.Pro tip: Review your bank and credit card statements at the end of each month and highlight every purchase you regret. Those are often your biggest savings opportunities.3. Buy used before buying newSome items lose value the moment they're purchased but still have years of useful… [TheTopNews] Read More.52 mins ago
- RockRose Risk Launches Mitigation-First Insurance Model for California Homeowner...RockRose Risk launched a “human-in-the-loop” assessments product to provide the algorithms need to price risk accurately in California. RockRose Risk, an insurance brokerage that offers property owners discounts for wildfire mitigation, launched its homeowners insurance product in California, which follows … [TheTopNews] Read More.54 mins ago
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