Money

ABC -  Fresh government data showed an eye-popping 38% surge in the wholesale price of vegetables in July.

The Guardian -  A new report from the Congressional Budget Office has confirmed what critics already warned about Trump’s megabill. The report shows the bill will painfully extract $1,200 a year from the poorest Americans while handing the richest an extra $13,600, writes Jarvis DeBerry. The key here isn’t the amount of money; it’s how much that money is worth to the individual losing or gaining it. Considering the lowest-earning 10% of people in the U.S. earn just $39,464, that loss of that money will be deeply felt, even as the richest literally won’t notice a few extra thousand dollars in their bank accounts. Read more.

Axios - Consumers and businesses are feeling the pinch from President Trump's trade war, with costs soaring for grocery staples and critical materials.

• Why it matters: It's no longer anecdotal. The effects are difficult to ignore across key inflation indicators that might only get hotter in the months ahead. Global tariffs are putting upward pressure on costs. U.S. businesses are bearing the brunt, contrary to White House hopes that foreign suppliers would take some of the hit.Wholesale prices rose at the fastest pace in three years last month — higher costs that might be passed on to the consumer down the line.

• Fresh and dry vegetable prices rose by almost 40% last month, the largest spike since inflation took off in 2022.  Read on.

 Consumer Affairs -  

• The typical American household spends $2,058 a month on essential bills, about one-third of the median income.

• California, Hawaii, New Jersey, and Massachusetts are the most expensive states for household bills.

• West Virginia, Mississippi, Arkansas, and Oklahoma are the most affordable places to cover monthly essentials.

Dollars & Sense  -  Massive inequality is the hallmark of today’s U.S. economy. Fully one-fifth of the nation’s income goes to the richest 1% of families. That’s twice their income share from four decades ago. These horrifying trends are well-documented. ....The income share of the top 1% more than doubled from 9.09% in 1985 to 20.7% in 2021. That’s larger than the 19.6% income share of the top 1% in 1928 on the eve of the Great Depression.