Softer inflation challenges RBA stance – BNY

BNY’s Geoff Yu reports that Australia’s Melbourne Institute inflation gauge fell again in June, with both headline and trimmed mean measures easing. Yu notes that this points to more established disinflation and suggests the Reserve Bank of Australia may need to move away from its neutral stance, as current market…

Fast food’s newest rival isn’t another burger chain. It’s the grocery store.

For years, fast-food chains fought to steal customers from one another. Increasingly, their biggest competition may be coming from the grocery aisle.As inflation-weary consumers rethink what counts as a good value, supermarkets’ expanding prepared-food offerings are becoming a viable alternative to a drive-thru meal. New foot-traffic data from location analytics firm Placer.ai suggests that the shift is beginning to show up in Americans’ choices about where to eat.Restaurant traffic has softened overall this year, but…

Business

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Federal Reserve study links illegal immigration to higher home prices

A new Federal Reserve working paper found the record surge in illegal immigration during the Biden administration triggered higher home prices and rents. The findings arrive as immigration remains a polarizing political issue. Republicans argue former President Joe Biden’s border policies strained housing and public resources, while Democrats say immigration…

Investing

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