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Excluding food and energy items. Data: Federal Reserve Bank of St. Louis; Chart: Lazaro Gamio/Axios

The consumer price index, which measures how much consumers pay for a variety of items, rose at a slower pace in August than economists expected. The cost of apparel and health care services declined, while the price of gasoline increased.

Why it matters: The consumer price index is a key gauge of inflation, which Federal Reserve officials take into account when deciding whether or not to raise interest rates. According to Lee Ferridge, an analyst at State Street, if the lack of inflation continues the Fed may not raise rates as frequently as some have anticipated.

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Biden's big economic plan plays it down the middle for Democrats

Illustration: Aïda Amer/Axios

Joe Biden yesterday laid out the broad strokes of his economic policy platform, which seemingly is designed to not freak out centrists and not piss off progressives.

Why it matters: Biden has a better-than-even shot of becoming the next president, which means his tax plans could become everyone's tax bills.

Coronavirus surge punctures oil's recovery

Illustration: Aïda Amer/Axios

The growth of coronavirus cases is "casting a shadow" over oil's recovery despite the partial demand revival and supply cuts that have considerably tightened the market in recent months, the International Energy Agency said Friday.

Why it matters: IEA's monthly report confirms what analysts have seen coming for a long time: Failure to contain the virus is a huge threat to the market rebound that has seen prices grow, but remain at a perilous level for many companies.

3 hours ago - Sports

Big Ten's conference-only move could spur a regionalized college sports season

Illustration: Aïda Amer/Axios

The Big Ten announced Thursday that it will move all fall sports to a conference-only schedule.

Why it matters: This will have a snowball effect on the rest of the country, and could force all Power 5 conferences to follow suit, resulting in a regionalized fall sports season.