For the first time in four years consumer prices in the US declined.

I'm Novasafo with the Marketplace Minute.

We're talking broad averages but still the Consumer Price Index fell in June compared to the month prior down 1 10th

percent that's the first time that's happened since May 2020 on an annual basis

inflation shrank from 3.3% to 3%.

The Federal Reserve is watching for this to determine interest rates.

Meanwhile, initial jobless claims remain low last week totaling $222,000. These are signs of that soft landing

economists have been looking for.

The Biden administration announced 1.7 billion dollars in grants

to convert old auto plants into electric vehicle production.

States benefiting include Michigan, Ohio, and Georgia.

Two weeks from today is the deadline for Apple to open its tap to pay system to competitors in the European Union.

That's a pledge EU officials accepted today from the tech giant to resolve an antitrust case.

I'm Novasapo with the Marketplace Minute.