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Wages are finally rising faster than inflation, according to new data from the Labor Department. And consumer prices in June had their smallest annual increase since March 2021. What does this mean for the power of our money? Plus, wealthy nations grapple with the rise in global migration. And, Ron DeSantis' Iowa ground game. Guests: Axios' Courtenay Brown, Stef Kight and Sophia Cai. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Fonda Mwangi, Lydia McMullen-Laird, Robin Linn and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: "The fever is breaking" as inflation takes long-awaited tumble Wages are finally rising faster than inflation The big-money donors backing DeSantis — and RFK Jr. Learn more about your ad choices. Visit megaphone.fm/adchoices