ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Thursday, Daily Money readers. It's Bailey Schulz with the day's top headlines. |
The Federal Reserve's battle to tame consumer prices may not be over. Inflation accelerated for a second month in August , with consumer prices overall up 3.7% from a year earlier compared with a 3.2% increase in July. Barclays expects the Fed to raise its key interest rate once more this year, by a quarter percentage point, after lifting it by 5.25 points in 16 months. |
Thanks to the uptick in inflation, Social Security recipients can now expect their cost of living adjustment (COLA) to jump 3.2% next year instead of the previous estimate of 3%. The updated increase would be higher than the 2.6% average seen over the past two decades though much lower than the 40-year COLA high of 8.7% this year. |
"The harsh reality is that the amount that the COLAs increase benefits in most years is meager at best," said Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. | LOS ANGELES, CALIFORNIA - SEPTEMBER 12: A shopper peruses the meats section of a grocery store on September 12, 2023 in Los Angeles, California. Mario Tama, Getty Images |
France halts iPhone 12 sales |
Tests conducted by France's National Frequency Agency (ANFR) found Apple's iPhone 12 emits too much electromagnetic radiation, prompting the agency to order the tech giant to halt sales and update the iPhone 12 devices in use. |
But Apple users shouldn't freak out. The ANFR found the iPhone 12 was emitting radiation levels "slightly above" the allowed threshold, with levels more than 10 times lower than the level at which there could be a health risk, according to a post France's digital minister Jean-Noel Barrot made on X, formerly Twitter. |
The World Health Organization notes that "to date, no adverse health effects have been established as being caused by mobile phone use." |
Apple did not immediately respond to a comment request from USA TODAY but told Reuters that the iPhone 12 was certified by multiple international bodies and said it provided several internal and third-party lab results that showed the phone complied with the French agency's standards. |
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In a partnership with sweets manufacturer Frankford Candy, the food giant is planning to release three new gummy candies based on Kraft Mac & Cheese noodles, Oscar Mayer hot dogs, and Claussen pickles. |
Mixed 40-count Kraft Heinz Variety Packs with all three flavors are rolling out through this month for $7.99 at retailers nationwide, and a smaller 30-count bag will also be sold at Family Dollar and Dollar General in the seasonal candy sections. |
For those who are true mac and cheese diehards, individual boxes of just the Kraft Mac & Cheese gummies will become available year-round at Walmart, Five Below and Amazon for $4. |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Inflation picked up again in August on a spike in energy prices. Core price increases stayed elevated but slowed. | | | | The Social Security cost of living adjustment forecast rose with inflation in August, but seniors are still struggling from two years of inflation. | | | | A French watchdog agency orderd Apple to stop selling the iPhone 12 after lab testing found the device emits too much electromagnetic radiation. | | | | And you thought candy corn was controversial. Kraft Heinz is releasing three new candy flavors just in time for Halloween. | | | | Starting in January, Delta Air Lines will only consider spending when it comes to earning elite SkyMiles status. | | | | Buffalo Games announced the recall of about 52,000 Chuckle & Roar Ultimate Water Beads Activity Kits due to ingestion, choking and obstruction hazards. | | | | Edwin Castro, who won the largest lottery prize in history, has purchased a $47 million mega mansion in Los Angeles, his third home purchase since winning. | | | | Millions of Americans had student debt canceled despite the Supreme Court's decision. Some will owe state taxes on it. Find out if you're one of them. | | | | Need to find a missing dog or cat? Ring, known for its doorbell camera, launched the new Pet Tag to helps owners find their lost pets. | | | | Two-pound containers of Kirkland chicken tortilla soup from Costco were mislabeled as gluten-free, the USDA said. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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