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HSBC's Preview Of The US July CPI: It Is Expected That Several Core Inflation Components Will Cool Down More Than Expected, Leading To Both The Overall CPI And Core CPI Falling Short Of Market Expectations
According To TASS, U.S. Middle East Envoy Witkov And Trump Senior Advisor Kushner May Visit Kyiv And Moscow In The Next Seven To Ten Days
National Bureau Of Statistics: In July, The CPI Recorded A Moderate Year-on-Year Increase, With Gold Jewelry Prices Rising By 24.6%
National Bureau Of Statistics: In July, Core CPI Rose By 0.3% Month-on-month And 0.9% Year-on-Year
National Bureau Of Statistics: In July, Month-on-month Price Changes For Various Goods And Services
China's July CPI Year-on-Year Rate Was 0.5%, Compared To An Expected 0.80% And A Previous Reading Of 1.00%
China's PPI Rose By 3.5% Year-on-Year In July, Compared With A 4.1% Increase In The Previous Month
According To The National Bureau Of Statistics, In July 2026, The National Consumer Price Index Rose By 0.5% Year-on-Year And Fell By 0.1% Month-on-month
China's CPI Rose By 0.5% Year-on-Year In July, Compared With A 1% Increase In The Previous Reading

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Richmond Federal Reserve President Barkin delivered a speech.
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States urge delay of new SNAP cost-sharing rules, citing fiscal strain and fragility exposed by a federal shutdown.
State and local governments across the United States are formally asking Congress to delay new rules that would shift a significant portion of food stamp costs onto their budgets, citing major operational and financial concerns.
The changes stem from President Donald Trump's "One Big Beautiful Bill," which was signed into law last July. The new legislation overhauls the funding structure for the Supplemental Nutrition Assistance Program (SNAP), which provides benefits to over 42 million Americans.

Under the new law, the federal government, which previously covered the full cost of SNAP benefits, will require states to share the financial burden. The changes are set to be phased in over the next decade.
• Benefit Costs: Beginning in fiscal year 2028, states will be required to pay up to 15% of all SNAP benefits issued. The exact percentage will depend on a state's payment accuracy in fiscal years 2025 or 2026.
• Administrative Costs: Starting in fiscal year 2027, the states' share of administrative costs will increase from the current 50-50 split to as much as 75%.
A coalition of government associations, including the National Governors Association and the National Conference of State Legislatures, argued in a letter that states are not prepared for these changes. They pointed to the severe difficulties they faced during the 43-day federal government shutdown in 2025 as evidence of the system's fragility.
During the shutdown, federal SNAP funding lapsed for the first time. This forced states to scramble, using their own funds to issue partial benefits while navigating rapidly changing guidance from the federal government. At the same time, they were also working to implement other new provisions of the law, such as expanded work requirements for SNAP recipients.
The letter stated that "these overlapping events exposed states and counties to significant, unintended fiscal risks that undermine program stability and integrity."
To avoid destabilizing the food aid program, the organizations are asking Congress to delay the new cost-sharing provisions until 2030. They argue this would give states enough time to lower their payment error rates and properly prepare their SNAP systems for the new financial responsibilities.
The financial impact of the law is projected to be substantial. On average, each state faces $218 million in new annual spending. The burden is even greater for larger states, with Florida expecting to pay an additional $991 million and California facing a $1.8 billion increase.
The letter warns that without some form of relief, the combined effects of these challenges could put the entire SNAP program "in jeopardy across the country."
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