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The inflation data arrives as the Federal Reserve weighs another rate hike. Consumer prices rose 3% last month compared to a year ago, marking a significant slowdown and raising hopes that a prolonged bout of heightened inflation is nearing its end. The fresh data Wednesday morning from the Bureau of Labor Statistics arrives days after a government release indicated that hiring slowed last month but remained solid. The economy, the jobs report suggests, continued a gradual downshift in June amid a central bank effort to dial back activity and slash price s while averting a recession. Consumer prices rose 4% in May compared to a year ago. The latest reading indicates a notable cooldown in June but still exceeds the Federal Reserve's inflation target of 2%. The data released on Wednesday exceeded the expectations of economists surveyed by Bloomberg, who expected i NFL ation to have fallen to 3.1% in June. Inflation rose a modest 0.2% on a monthly basis, accelerating from a 0.1% incre...

A tornado is bringing "significant damage" to the city of Selma, Alabama, on Thursday. A tornado delivered " significant damage " to the city of Selma, Alabama, as strong storms moved through the region on Thursday, according to the mayor's office. The "large and extremely dangerous" tornado struck Selma at 12:20 p.m. local time, according to the National Weather Service. A tornado is bringing "significant damage" to the city of Selma, Ala. on Jan. 12, 2023. @tobyking_10/Twitter MORE: Tips on how to stay safe from a tornado Most of Selma's streets are closed due to downed power lines and trees, according to the mayor's office. All Selma students are reported to be safe and at their schools, the office added. The tornado in Selma is one of at least 23 twisters reported across Alabama on Thursday. More tornadoes are expected as a line of severe storms moves through Georgia and the Carolinas Thursday night. Selma, a famous focal point o...

An Amtrak Auto Train detoured off its normal route due to the derailment of a CSX freight Monday night has been stuck while waiting for a new crew to arrive. Passengers traveling on an Amtrak Auto Train from a Washington, D.C., suburb Monday evening expected to arrive in the Orlando area by Tuesday morning. But their planned 17-hour journey currently has no end in sight after a freight derailment caused significant delays to the Amtrak trip. The train was detoured off its normal route due to the derailment of a CSX freight Monday night and has been stopped in Denmark, South Carolina, while waiting for a new crew to arrive, Amtrak said. "Tuesday's southbound Amtrak Auto Train has been impacted by significant delays due to a CSX freight derailment in South Carolina," Amtrak said in a statement. "Customers have been provided meals, snack packs and beverages." The company did not provide a timeline on when the train should resume its journey. An Amtrak train ...