Worst in nation: Louisiana’s child poverty rate is the highest in the nation over the past three years, according to a new Annie E. Casey Foundation report citing inflation and expiring pandemic aid. The state also saw the steepest increase nationwide. The study’s release coincides with Louisiana halting SNAP benefits amid the ongoing federal government shutdown. Read more from Louisiana Illuminator.
Surging amid sanctions: Oil prices surged after the U.S. imposed sanctions on Russia’s largest oil firms, Rosneft and Lukoil, raising fears of supply disruptions. Brent crude jumped over 5% to around $66 a barrel, its biggest one-day gain since June. The move could deter India’s imports, leaving China as Russia’s key potential buyer. Read more from Bloomberg. A subscription may be required.
Sluggish growth: U.S. single-family rents rose just 1.4% in August from a year earlier, the slowest pace in 15 years, according to Cotality. That’s down from 2.3% in July and well below last year’s 3% average gain. Rent growth has weakened across all price tiers after strengthening earlier this year. Read more from CNBC.
