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why the coffee giant is closing stores in several major cities and it s not about sales. and the trailblazing woman making nfl history announcer: this is nbc nightly news with lester holt good evening, everyone the government is putting another dismal number to what our family budgets are already telling us prices are still going up the rate of inflation in june ballooned to 9.1% over the same month last year. the highest peak since 1981 the cost of virtually everything up, from gas, up 60%, to groceries, up 12.2%. to the roofs over our heads climbing 5.5% last month president biden calling the numbers unacceptably high but also out of date, noting they do not fully reflect recent declines in gas prices still, it spells a gut check moment for the fed as it weighs more interest rate hikes, sure to hit home for american borrowers and potentially tipping the economy into a recession. tom costello has our report reporter: for anyone struggling with daily expenses, ....
why nasa is now joining the hunt for ufos announcer: this is nbc nightly news with lester holt good evening, everyone, from los angeles where president biden today offered an explanation for why consumer prices are still climbing may s numbers out today dashing hope inflation was starting to cool. instead it jumpe another percent growing to 8.6% year over year, leaving inflation sitting at 40-year highs affecting everything from home prices to food, clothing to gasoline put another way, american households are paying $460 more per month to buy the same amount of goods and services with the port of los angeles as his background president biden putting some of the blame on shippers, oil companies and vladimir putin as wall street suffered a major sell-off the dow lost 880 points, 2.7% the nasdaq down 414 points, 3.5% tonight, all eyes now turned to the fed and its next steps tom costello has more. reporter: the red arrows on wall street represent real money for am ....
especially in new york city, to have a wholistic view of crime. what we will start to see is democrats like me who have experience in law enforcement but also understand the problems with our criminal justice system all working together. you look at texas. texas passed a law over the objection of every single law enforcement body in texas. the democrats were against it. the republicans passed an even more lenient gun law. and law enforcement was against it. at some point that alliance is going to crack. we saw it on january 6th where people were hitting police officers with blue lives matter flags. the republican party is not the party of law and order. as democrats, we need to embrace law and order in a compassionate and empathetic way. daniel goldman, now officially a candidate for new york s newly formed tenth district. thanks for being here, dan. it is just past the hour now. it is 9:01 in the east, just after 8:00 a.m. in uvalde, texas, where we continue to lea ....
the gas prices soaring another 5 cents overnight, adding to the strain on americans wallets. we ll talk about what the white house is doing about it. this morning in uvalde, texas, a grief-stricken community continues to lay loved ones to rest after last week s school shooting that claimed the lives of 19 children and two teachers. today, seven separate services will be held for victims of this tragic shooting. next hour, a funeral for irma garcia, a teacher at robb elementary and her husband joe. irma was killed while protecting her students during the shooting. her grieving husband died thursday after delivering flowers to his wife s memorial. doctors describe his death as a possible example of broken heart syndrome. irma and joe were high school sweethearts. they would have celebrated their 25th wedding anniversary later this month. they leave behind four children. this afternoon 10-year-old jose manuel flores jr. will be laid to rest. he was honored for his good ....
There are to make things the bank had to do today, the first immediate decision, we focused on that half point percentage rise two things. that did seem to convince many in the markets at the bank was getting on the front foot again in terms of the fight against inflation, but it was also trying to kind of set out parameters in terms of where it might go in the next 12 months, 18 months. in the past it has told the markets, you know, you got above yourself, we re not going to go to 6%. today it didn t do any of that. so the markets are assuming as you say, there may be another two or three rises up to just below 6% maybe by the beginning of next year, but what the bank of england stressed is that it is all depended on the data. we are to know where they thought they would be three months ago and that s because when the facts change, they say they change their mind. they do hope inflation will still tumble over the next year. if it does, may be rates do not need to go up so high but ....