Consumers seeing relief in some food prices as inflation continues to slow
Consumers are getting some relief from higher prices as core inflation, which excludes food and energy, continues to show signs of cooling — an encouraging sign for the U.S. economy, according to economists. The Department of Labor’s report on Thursday showed the consumer price index rose 0.2% in July, in line with expectations, and 3.2% in the past year compared to 3% in June. Despite that slight uptick, economists say that it’s still good news for the economy overall and for consumers. This is the second month core inflation has reached pre-pandemic levels, according to an analysis of Department of Labor data by the Roosevelt Institute. Continue reading at WA State Standard. (Scott Olson)
Washington state buys shuttered psychiatric hospital in Tukwila
Washington state officials are buying a recently shuttered for-profit psychiatric hospital in Tukwila in an attempt to shore up the state’s mental health system. The purchase of the Cascade Behavioral Health facility, which closed last month, will prevent the loss of more treatment beds amid a long-running shortage of psychiatric treatment options. Funding for the $29.9 million purchase comes out of the state Department of Social and Health Service’s current budget, according to agency spokesperson Tyler Hemstreet. “Any additional funding will be through a supplemental funding request” to the Legislature, he wrote in an email. Under state operation, the facility – which was licensed for 137 beds – will be used for patients moving through Washington’s civil commitment system, according to Hemstreet. That will then open space for more patients needing competency and restoration services at Western State Hospital, he added. Continue reading at Crosscut. (Genna Martin)
WA ferry fares to increase this fall and next
The price of a ferry ride is set to go up around 40 cents on the state’s busiest routes — in October and then again in the same month the following year, a step state transportation officials say is necessary to cover the full cost of running the boats. The state Legislature budgeted $725 million for operations in 2024 and 2025, assuming $419 million of that would come from fares. The Washington State Transportation Commission and Washington State Ferries said they would monitor ridership and revisit the budget in the 2024 legislative session. People took 17.4 million trips last year. So far this year, ridership is 77% of pre-pandemic levels. Continue reading at Seattle Times. (Karen Ducey)
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