The Daily Money: Inflation slipped a bit, but the costs of rent, food, remain high

Happy Tuesday. It's Charisse Jones with your Daily Money headlines to keep you in the know.

The U.S. is still grappling with inflation, but there's a little ray of light. In August, inflation dipped a bit, moving off its 40-year high. But if you haven't felt that at the grocery store, here's why: prices actually went up month over month. 

Prices overall rose 8.3% from a year earlier, which was down from the 8.5% spike in July and the four-decade high of 9.1% the nation saw in June. But consumer prices ticked up 0.1% in August after being largely flat the previous month. And while gas prices continue to fall, the increasing costs of food and rent may still leave many consumers feeling squeezed.

Looming railroad strike could be 'economic disaster' for consumers 

If you're planning a trip by train, you might want to have a back-up plan.

There could be a national railroad strike starting Friday, which industry experts say would shut down 30% of the nation's freight and keep passenger and commuter trains from running.

As of this past weekend, 10 unions representing 125,000 workers had reached tentative agreements, but the two biggest rail labor unions are holding out for additional quality of life concessions.

If the unions can't reach an agreement by the end of the week, Congress will likely intervene to prevent a strike because of the significant disruption a work stoppage could have on the economy.

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Even without the iPhone 14, you can still get an update.Apple launched iOS 16 on Monday, enabling iPhone users to tap into several new features whether or not they upgrade to the new iPhone 14.  

Is there a doctor on board?Airplanes are required to have medical kits, but they often don't have the best equipment. 

Inflation impacts insurance too.Home and car insurance premiums are on the rise, but your limits are likely staying the same which may leave you underinsured. 

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Charisse Jones on Twitter: @charissejones.