The Senate this week passed a wide-ranging bill known as the Inflation Reduction Act, sending the bill to the House, which is expected to approve the bill on Friday.

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The Consumer Price Index (CPI), a key measure of inflation, was unchanged in July after rising 1.3 percent in June. Over the last 12 months, the index has increased 8.5 percent, the fastest rise in the index since the early 1980s.

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The Senate Finance Committee has scheduled an executive session for September 7 to advance the nomination of Doug McKalip to be chief agricultural negotiator at the Office of the U.S. Trade Representative (USTR).

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USDA this week published the Organic Livestock and Poultry Standards (OLPS) proposed rule in the Federal Register.

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USDA on Friday announced it is extending the comment period for the proposed rule entitled “Transparency in Poultry Grower Contracting and Tournaments” for an additional 15 days to August 23.

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Sen. Kyrsten Sinema (D-AZ), considered the only remaining holdout on a wide-ranging bill to be known as the Inflation Reduction Act, announced her support this week, clearing the way for its passage.

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Sen. Joe Manchin (D-WV) this week announced his support for a bill to be known as the Inflation Reduction Act of 2022, a slimmed down version of Democrats’ Build Back Better legislation.

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Inflation hits new 40 year high

On July 15, 2022, in Inflation, by David Elrod

The Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) rose 9.1 percent in May compared to last year, the highest level since 1981.

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