The Evening: Some inflation relief for consumers

Also, Biden and Trump agreed to debate in June and September.

View in browser|nytimes.com May 15, 2024 By Matthew Cullen Good evening. Here's the latest at the end of Wednesday. Some relief from inflation A first presidential debate in June Plus, a red portrait of King Charles The New York Times Inflation eased and markets hit new highs A new inflation report released today offered consumers and policymakers some relief: April prices, with volatile food and fuel prices stripped out, rose 3.6 percent over the previous year — the lowest annual increase in so-called core inflation since early 2021. The report, which showed a slight dip in overall inflation as well, was especially appreciated by economists who had become worried about the lack of progress after three straight months of uncomfortably rapid price increases. "This report was mostly good news in that it wasn't bad news," our economics reporter Ben Casselman told me. He said that the stubborn price increases in recent months "had begun to erode confidence in the 'soft landing' narrative that had taken hold last year. This report doesn't erase those concerns, but it does at least ease fears that inflation was re-accelerating." Today's data showed progress on several fronts. The prices of groceries decreased outright in April. So, too, did the prices of new and used cars and airline fares. And while gasoline prices ticked up, housing costs — which have proved to be among the most stubborn — showed hints of improvement. The news boosted the stock market's current rally: The S&P 500 rose 1.2 percent today and surpassed its previous high set in March. Bond yields also fell as investors appeared to dial back how long they expected interest rates to stay elevated. The first debate between Joe Biden and Donald Trump during the 2020 campaign. Doug Mills/The New York Times Biden and Trump agreed to debate in June The two major-party candidates for president — Joe Biden and Donald Trump — announced separately today that they had agreed to debate twice before the November election. The first is set to happen on June 27 on CNN, and the second on Sept. 10 on ABC News. Biden agreed to the debates on the condition that they bypass the nonpartisan group that has long managed the events. His aides demanded that news outlets host without an audience or third-party candidates, and with microphones that shut off after the speaker's time elapses. It remains unclear whether the Trump campaign will agree to the proposed rules. The June debate would be the earliest general-election debate in modern history. Security officers moved Prime Minister Robert Fico in a car after the shooting in Handlova, Slovakia, today. Radovan Stoklasa/Reuters Slovakia's leader was shot and critically wounded The Slovakian prime minister, Robert Fico, was shot five times today by an attacker who had been waiting behind a barrier along with others hoping to greet the leader. The government said that a suspect had been detained, and that it appeared to be a politically motivated assassination attempt. Fico underwent hours of emergency surgery, which his deputy said appeared to have gone well. "I guess in the end he will survive," the deputy said. Here's the latest. Fico, who is serving his third term as prime minister, has aligned himself with the Hungarian prime minister, Viktor Orban, in opposing aid to Ukraine. Kloxxado, a naloxone nasal spray. Erin Schaff/The New York Times Overdose deaths dropped for the first time in five years U.S. overdose deaths declined in 2023 by about 3 percent from the year prior, according to federal data released today. Last year's toll — 107,543 — was still horrific. But it was the first drop-off in drug fatalities since 2018, when the rates were two-thirds of their current height. The decrease was attributable mostly to a drop in deaths from synthetic opioids, but the report did not offer reasons for the drop. One possible factor is that naloxone, a drug that reverses opioid overdoses, has become more widely available. More top news War: Ukraine's troops were trying to hold off fierce Russian assaults in the northeast. Their battlefield position has seriously worsened in recent days, officials said. Court: Opening statements began in the corruption trial of Senator Robert Menendez. Weather: Parts of East Texas are facing a "nightmare scenario" of rain this week. 2024: Disinformation videos from Russia are trying to appeal to right-wing voters with fake messages about Biden. Politics: Big Wall Street donors are warming up to Trump. Media: The billionaire Frank McCourt, a critic of how tech companies use data, mounted a bid to buy TikTok. Speech: The free-expression group PEN America has canceled events while it is roiled by controversy over its response to the war in Gaza. Boston: A woman was accused of murdering her police officer boyfriend. The city is transfixed by the trial. TIME TO UNWIND King Charles III at the unveiling of his portrait on Tuesday. Aaron Chown/Pool photo, via Associated Press Even King Charles was surprised by his portrait Royal portraits tend to be fairly staid, with symbols of state, of office, of pomp and lineage. That's why the new official portrait of King Charles III, painted by Jonathan Yeo, has created such a controversy. It shows the king's body bathed in a sea of crimson — his face seems to float. Some said he looked as if he were "burning in hell" or "bathing in blood." Others compared it to a possessed portrait in "Ghostbusters II." It was not, however, the first polarizing royal portrait. We took a look at some of the others. Latyr Sy, Gakuto Chiba, Neddiel Elcie Muñoz Millalonco, Aleksandar Arabadjiev Why do people make music? For at least 150 years, scientists have debated whether our love of music is evolutionary or incidental. Charles Darwin declared music to be "amongst the most mysterious" of human abilities, favoring a theory that it evolved to arouse "ardent passions." A new study published today offered a partial explanation. In it, 75 researchers sang and examined songs from their own cultures. They found that the songs share certain features not found in speech, suggesting that music might have evolved in our distant ancestors. Kei Kobayashi at one of his new Tokyo restaurants. Noriko Hayashi for The New York Times Dinner table topics A star chef: Kei Kobayashi earned three Michelin stars in France. Then he went home to build an empire. The reading room: Inside OpenAI's office is an ornate, old-fashioned library. Take charge: We chatted with a psychologist who has ideas for how to avoid kneejerk decisions. Not just weeds: Some native plants offer a natural solution for pest control. ADVERTISEMENT WHAT TO DO TONIGHT Linda Xiao for The New York Times. Food Stylist: Sue Li. Prop Stylist: Sophia Eleni Pappas. Cook: A regal and splendid strawberry cake is worthy of any high celebration. Listen: This year is the 50th anniversary of Cass Elliot's death. This playlist highlights her range as a vocalist. Read: In "Henry Henry," Shakespeare's Henriad is given a modern queer makeover. Check: We put together a guide for meat expiration dates. Style: These bright yellow bags enliven any outfit. Glow: Not all pimple patches work. But some are worth trying. Upgrade: You can do better than the flashlight on your phone. Play: Here are today's Spelling Bee, Wordle and Mini Crossword. Find all of our games here. ADVERTISEMENT ONE LAST THING Matthew Barney in his 1994 film "Cremaster 4." © Matthew Barney, courtesy of the artist and Gladstone Gallery. Photo: Michael James O'Brien An artist whose influence is everywhere For his first solo show in 1991, Matthew Barney hung from a ceiling naked and displayed an exercise bench cast in petroleum jelly inside a walk-in cooler. The forward-looking artist's influence has since permeated the broader art world. Goo, the translucent fluid featured in Barney's work, has reached luxury fashion, inspiring Balenciaga's slime printed hoodies. And full-frontal male nudity — a taboo Barney defied — has found its way into the mainstream, like the blockbuster "Oppenheimer." Have a trendsetting evening. Thanks for reading. I'll be back tomorrow. — Matthew We welcome your feedback. Write to us at evening@nytimes.com. Writer: Matthew Cullen Editorial Director: Adam Pasick Editors: Carole Landry, Whet Moser, Justin Porter, Jonathan Wolfe Photo Editor: Brent Lewis Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for The Evening from The New York Times. To stop receiving The Evening, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018