Inflation was up 4.1% in May, according to the BEA’s personal consumption expenditures index. We know hot energy prices, resulting from the war in Iran, were part of that spike. But cut out energy and food, and inflation still hit a three-year high, at 3.4%. So what else is driving the increase? Also in this episode: Q1 GDP is revised up, Wyoming navigates the consequences of property tax cuts, and Great Lakes cargo ships make up a vital branch of U.S. supply chains.

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Read the stories from today’s episode:

It's not just food and energy — "core" inflation is up as well
GDP grew 2.1% in the first quarter of 2026. What does that tell us?
What do we need property taxes for? Wyoming is finding out
Need a burger? A car? Winter road salt? Thank cargo ships on the Great Lakes
Gen Z trades in date-flation for "solo-maxxing"