Top-of-mind economic news as we start the week:
— The Fed’s measure of delinquent credit card debt (30 or more days late) rose to 7.2% in the 2nd quarter, the highest rate since 1st quarter 2012.
— Consumer prices in China fell by 0.3% in July, the first time in over two years, as the country grapples with the possibility of deflation, amid a slowing economy.
— U.S. consumer prices rose 3.2% annualized in July (per the CPI), less than expected. Almost all of the increases was due to higher costs for housing.
— U.S. wholesale prices rose 0.3% in July, reversing a downward trend; over the past 12 months, wholesale prices are up just 0.8% ( 2.7% without food & energy).
— Canada released clean electricity regulations; the country is aiming to de-carbonize domestic production of electricity by 2035.
