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5 min read“We're seeing one of the best inflation reports in a while, and cooler prices brought cooler spending,” NPR’s Alina Selyukh reports, capturing the economic paradox at the heart of today’s news. The June data shows prices actually fell from May to June, driven largely by a tentative ceasefire in the war with Iran that lowered energy costs. But the relief at the pump came with a trade-off: retail sales growth slowed to just 0.2% compared to May, with spending declining at gas stations, grocery stores, and pharmacies. Year-over-year, spending is up 6.7%, but much of that is inflation—people paying more for the same goods. Shoppers did splurge on Prime Day, World Cup gear, and early school supplies, driving big jumps at bookstores, sporting goods, and electronics stores. The bottom line: the economy is cooling in a way that might please the Fed, but the political backdrop remains tense, with President Trump set to deliver a national address tonight amid low approval ratings on his handling of the war, the energy crisis, and the economy.
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What you'll learn
- 1 (00:04) **Military to Screen for Low Testosterone** - Defense Secretary Pete Heggseth announced the military will screen service members over 30 for low testosterone and offer replacement therapy.
- 2 (00:56) **Trump to Address Nation Tonight** - President Trump will deliver a speech, with election security and the U.S. war with Iran as possible topics.
- 3 (01:25) **Inflation Cools, Retail Sales Slow** - June inflation cooled more than expected, with retail sales growth slowing to 0.2% from May.
- 4 (02:27) **FIFA World Cup Final Set** - Spain will face Argentina; President Trump plans to attend the match in New Jersey on Sunday.
- 5 (03:01) **Catastrophic Flooding in Texas** - At least one person has died from a storm system causing catastrophic flooding; rescuers saved dozens stranded by high waters.
- 6 (03:25) **Report on Climate Attribution Science** - A new report from the National Academies reviews how scientists can pinpoint climate change’s influence on specific weather events.
- 7 (04:19) **Hong Kong Crackdown on Independent Booksellers** - Police raided two bookstores, one founded by journalists, and arrested five people for selling alleged seditious publications.
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