Wall Street Journal reporter Nick Timiraos said housing's contribution to inflation is currently slightly below pre‑pandemic levels and core PCE over that period was at or below 2%. He said this has received little attention.

U.S. API weekly refined product inventories for week to Aug. 21: -0.50 mln barrels; expected -1.674 mln; prior -2.797 mln.

The Ministry of Agriculture and Rural Affairs issued the 15th Five-Year Plan for the national farm-product origin market system, targeting improved supply–demand matching and a modern circulation network. Policy priorities include online–offline integration, alignment of production and sales locations, interconnection of agricultural commerce, upgraded market facilities and marketing services, stronger monitoring and early-warning, and expansion of distribution participants. Key targets: by 2030 establish 50 origin-market clusters able to drive regional or national leading industries; develop 1,500 origin cold-chain collection-and-distribution centers with storage, primary processing and cold‑chain delivery capacity; and build 500 certified, high‑standard agricultural premium brands. By 2035 the plan aims for significant progress in efficient supply–demand linkage and a stronger role for the system in ensuring stable, safe supply, raising agricultural quality and farmer incomes, and supporting agricultural modernization.