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Consumer prices rose at an annual rate of 3.4%, a small decrease from March; retail sales were flat in April, as bargain-hunting shoppers held back; Justice Department says Boeing has breached deferred prosecution agreement; IEA trims global oil demand growth forecast.

The consumer price index is up 3.4% in a year, and — setting aside volatile food and fuels costs — the CPI increase over 12 months was the lowest in three years. For people fervently hoping interest rates will go down sooner rather than later, this is good news. But can there be too much slowing? We dig in. Plus, we’ll hear how the economy of Necoclí, Colombia, has shifted to serve migrants stopping there.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

The consumer price index comes out later this morning. It’s designed to measure inflation but ignores one of the biggest categories of price increases hitting consumers: the cost of borrowing money. We’ll unpack why that’s the case. Also, a bipartisan group of Senators wants the federal government to spend $30 billion to address artificial intelligence development. Then, school districts face tough choices as pandemic funding ends

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

From the BBC World Service: Roughly 500,000 migrants traveled through dense jungles on the Colombia-Panama border last year, according to the United Nations. We’ll hear how businesses in a beach town have shifted their focus to cater to the new arrivals. Plus, China vowed to retaliate against President Biden’s significant tariffs on some Chinese imports. Meanwhile, Russia’s President Putin spoke of his country’s close ties to China ahead of a visit to Beijing.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

 

This week, media executives have been busy trying to impress advertisers at the annual “upfronts,” where major TV networks showcase their stars, new programs and the potential size of their audiences. It’s a show in its own right. “Tonight Show” host Jimmy Fallon did his version of Beyonce’s “Texas Hold ‘Em” at NBC’s upfront Monday. But this year, Big Tech is looking to cash in. Marketplace’s Lily Jamali spoke about it with Reuters reporter Sheila Dang, who said ad spending on digital has surpassed that of traditional TV for the first time.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

 

President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.