President Biden hits new low in polls

July 11 - 15, 2022
 

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Inflation: Consumer prices rose 9.1% in June from a year ago, above economist projections of 8.8% and the largest percentage change since 1981. It also represents an increase from the 8.6% figure in May. The energy and food categories continue to lead the way, up 42% and 10.5%, respectively (interactive chart of inflation by category). Worker wages are not keeping pace with inflation, as real earnings fell 1.0% in June from the prior month. Over the past year, real earnings (adjusted for inflation) have been on a steady downward trend.

Italian PM offers resignation: Mario Draghi, Italy’s prime minister and former head of the European Central Bank, offered his resignation on Thursday in a surprising blow for the EU’s third largest economy. However, Italian President Sergio Mattarella quickly denied his resignation, ordering Draghi to attempt to solidify a new coalition in parliament. Thus, Draghi’s status …