US inflation slows but rate rises to continue; Domino's Italian pizza venture fails

Wall Street stocks have rallied on hopes that inflation in the United States might have peaked. US consumer prices were unchanged in July due to a sharp drop in the cost of petrol, but over the year inflation fell from 9.1 percent to 8.5 percent. 

Evidence of slowing inflation is trimming bets that the US Federal Reserve will hold back from delivering a supersized rate hike of 0.75 percentage points in September. 

Also -  Domino's Pizza has exited Italy after failing in its mission to conquer the home of pizza. Domino's strategy was damaged when the pandemic forced traditional Italian pizzerias to adopt their own delivery services.

I talk inflation and pizzas with Tom Oriti on ABC Newsradio