The Daily Money: Inflation slips, but consumers may still feel pain at the grocery store

The rate of inflation slowed in August, but consumer prices rose, with increasing rent and food costs overshadowing the falling price of gas ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Tuesday, September 13 Happy Tuesday. It's Charisse Jones with your Daily Money headlines to keep you in the know. The U.S. is still grappling with inflation, but there's a little ray of light. In August, inflation dipped a bit, moving off its 40-year high. But if you haven't felt that at the grocery store, here's why: prices actually went up month over month.  Prices overall rose 8.3% from a year earlier, which was down from the 8.5% spike in July and the four-decade high of 9.1% the nation saw in June. But consumer prices ticked up 0.1% in August after being largely flat the previous month. And while gas prices continue to fall, the increasing costs of food and rent may still leave many consumers feeling squeezed. Looming railroad strike could be 'economic disaster' for consumers  If you're planning a trip by train, you might want to have a back-up plan. There could be a national railroad strike starting Friday, which industry experts say would shut down 30% of the nation's freight and keep passenger and commuter trains from running. As of this past weekend, 10 unions representing 125,000 workers had reached tentative agreements, but the two biggest rail labor unions are holding out for additional quality of life concessions. If the unions can't reach an agreement by the end of the week, Congress will likely intervene to prevent a strike because of the significant disruption a work stoppage could have on the economy. 📰 More stories you shouldn't miss 📰 Even without the iPhone 14, you can still get an update. Apple launched iOS 16 on Monday, enabling iPhone users to tap into several new features whether or not they upgrade to the new iPhone 14.   Is there a doctor on board? Airplanes are required to have medical kits, but they often don't have the best equipment.  Inflation impacts insurance too. Home and car insurance premiums are on the rise, but your limits are likely staying the same which may leave you underinsured.  About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you. Follow Charisse Jones on Twitter: @charissejones. Inflation remained high even as gas prices eased the pain Food and rent costs rose again in August, a CPI report showed, offsetting lower gas prices and raising fears the Fed will keep sharply hiking rates. A potential railroad strike could have 'catastrophic economic impacts' Inflation may be leaving you underinsured. Here's why and what to do. Median US household income unchanged last year amid high inflation Higher than expected August inflation sends stocks lower What to bring to a job interview: The do's and don'ts of getting... Savings at the pump made null by high cost of child care, electricity. Target to sell FAO Schwarz toys in stores as part of multi-year deal Biden may be taking premature victory lap on inflation, experts say Social Security checks could get their biggest bump in 41 years   Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2022 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102