a far cry from the 9% we saw in june but there are warnings of a possible recession or the pipelines our business reporter katie silva has been looking into the details of the story for us. it is always great to see you on asia business report at the seems like relatively good doesn t it? fit at the seems like relatively good doesn t it? of course. as we mentioned good doesn t it? of course. as i we mentioned a huge drop since lastjune. 5% inflation down from 6%, its well and truly been welcomed in high quarters, president biden saying it gives american families some breathing room in particular pointing to the fact that we ve seen the greatest reduction in the costs of gas as well as food and grocery expenses, things that are very important to american families. but the excitement should be tempered somewhat. up was the us like many major economies pursues an inflation target of 2% so 5% is still a long way off that and if we were to take out those impacts of the fuel and
joining us on the programme, it was a night for the holders real madrid as they sent chelsea to yet another defeat in the opening leg of their uefa champions league quarter final in a season that seems to lurch from one problem to the next for the londoners. the 14 time winners spain claim a 2 0 nil victory over frank lampard s side while in an all italian clash ac milan held off natalie, a host of chances mr. joe, the side may be struggling domestically but in europe they just seem to manage to grind out those results, don t they? a mixed season for real madrid, a chaotic season for the premier league side chelsea, this competition, the champions league really represents the last opportunity to win a trophy this season and they were watched by their american owner todd bowley, he watched the team lose 2 0 to real