The Economy Is Doing That Thing Again

Money

The Economy Is Doing That Thing Again

We’re at the inflation station, and we want off the train: For the third-straight month, inflation is on the rise, hitting a three-year high of 4.2% in May, according to the Labor Department. May also marked the second month inflation outpaced wage growth. Energy prices are largely to blame for most of the increase (you know, because of the Strait of Hormuz situation — though President Donald Trump sees it differently). The AI boom and tariffs (more on that in a minute) have also added pressure. Summer travel is expected to cost significantly more than a year ago, with flights up 26.7% and hotel rates up 5%. Sounds bleak, yes, but so far, the economy has shown a lot of resilience in the face of trouble. 

Show me my (tariff) money: While consumers try to navigate rising costs, businesses are looking to recoup some of their money lost to tariffs. The Supreme Court decided in February that Trump’s tariffs were unlawful, and now the legal fight has entered new territory — payback (and not the revenge kind). A court order says any importer affected by the $166 billion collected in tariffs should be allowed to seek a refund, but the Trump administration argues only the companies that challenged the duties in court should get paid back. If that position prevails, thousands of businesses that paid the tax but never sued could be left out — and the government could keep billions. Meanwhile, consumer advocates want to know (as do we) if customers who indirectly absorbed tariffs by way of higher prices might also be entitled to a refund. Best to hope your most frequented stores pass along their reclaimed money (a few have promised to) or concentrate on maximizing your personal economy.

Related: President Trump Said What About Today’s Inflation Numbers? (The Hill)

The News in 5

🗞️ During yesterday's congressional hearing, Bill Gates offered a revealing account of how Jeffrey Epstein allegedly tried to exert pressure on him.

🗞️ One of the nation’s leading OB-GYN groups just broke with the CDC on vaccines during pregnancy.

🗞️ The ACLU filed a lawsuit on behalf of a man arrested on suspicion of child sexual abuse because of an alleged AI facial recognition error.

🗞️ Republicans won't let up on baseless voter fraud claims in California, which critics worry is a preview of the election fights to come this November.

🗞️ Men get breast cancer too — and this action star’s diagnosis motivated him to encourage all men to get checkups. 

Reasons To Fill Out the FAFSA

The $400K Bachelor’s Degree 

What’s going on: You thought college was expensive when American Idol seasons were in the single digits? Sixteen colleges and universities have a sticker price of over $100K per year, according to new data from The Princeton Review published by CNBC. (That number factors in tuition, fees, housing, and more.) That’s about as much as the yearly US median family income. Make it make sense. The $100K list includes top schools like Duke University, University of Chicago, and New York University; at least 10 others are in the $95-99K per year range. While some students will graduate with a bill of nearly half a million, many of the priciest colleges also offer generous aid, particularly for lower-income families.  

To enroll or not?: Many millennials grew up hearing that college debt was “good” debt. Then came years of loan payments and wage growth that never quite kept pace. As many consider college for their kids, they're questioning what’s the best ROI — trade school? Trusting in our future AI overlords? Almost two-thirds of voters say that college isn’t worth the cost, according to a 2025 NBC News poll. But adults with a bachelor's degree earn 38.6% more. Increasingly, families choose the middle ground: their local community college or state school. Cheaper tuition and close enough to use your parents’ washing machine — it’s really the best of both worlds.

Related: This Is the Leading Reason Companies Give for Job Cuts (CNBC)

SoloTok 

The Booming Business of Being Friendless 

Selling solitude: All alone, and proud of it. We’ve become captivated by the growing number of “loneliness influencers” who depict their solo Friday-nights-in (YouTube and Diet Coke in a wine glass, anyone?). One framed their video: “POV: you’re single, have no friends, live alone, and won’t be having kids.” These clips are a sharp contrast to most “aspirational” content online that depicts themed girls' nights with craft cocktails or growing families in matching PJs. But now, these creators gain followers because of what they don’t have — other people. The fact is, most Americans are lucky to have even a few close friends, and spend less time with other people than ever before. But are influencers being #relatable, or just selling social isolation (and a Sleepytime Tea to go with it)?

Why this content hits: If you feel lonely, knowing someone else is in a similar spot might make you feel less alone. And even if you’re in demand (say, you’re booked solid for the next month, or at the parenthood phase where you can’t even pee alone), it’s a form of escapism to watch someone have a night in doing whatever the hell they please. But there’s a difference between feeling lonely and being alone. And it could be helpful to identify what these videos bring up for you. Some may see these influencers as dispiriting, but they might help make sense of the moment we're living in. The Atlantic called it "depressing but unsurprising." Probably a little of both.

Related: The Politics of Loneliness (The Guardian)

Quick Hits

🧼 Dermatologists say you can skip these five products and swap for less expensive dupes. Don’t have to tell us twice.

🏀 Taylor Swift was in town to cheer on the New York Knicks in a T-shirt featuring one of her favorite people. Goin' her own way.

🚽 If you often end up reading on the toilet, your bad habit could earn you big bucks. The tech detox we didn’t know we needed. 

☀️ What is a ’90s summer, and why does the internet want me to deliver it to my kids? 

👔 Sarah Jessica Parker recreated an iconic Carrie Bradshaw outfit, but it’s not the one you think. 

🐾 We’ve seen dogs at the White House, but Vice President JD Vance’s family is opting for a farmhouse staple instead. Veep veep.

🌿 Zac Efron’s eco-friendly Australian dream house (built out of what?) has us hoping the MTV Cribs crew will fly out there.

On Our Calendar

Thursday, June 11

⚽ FIFA World Cup kicks off 

The epic tournament begins with a superstar-packed pregame ceremony before Mexico takes on South Africa in the opening match.

🍿 New season of Sweet Magnolias 

The feel-good Netflix show is back. Before margarita night, catch up with a season four recap.

🎉 Ferris Bueller's Day Off turns 40 

“Bueller? Bueller?” Give this '80s classic a re-watch — and then find out what the stars are up to now.

Psst…this is just the preview: Subscribe to theSkimm app and never miss a moment.

Career Day…but Better

For anyone mapping out their next move, Her Campus’s Her Conference returns to NYC on June 27 for a day filled with career advice and networking alongside hundreds of Gen Z creators, journalists, and execs. Keynote speakers this year include Olympic gymnast Jordan Chiles, actress Anna Cathcart, and creator Katie Feeney. Skimm’rs get 50% off their ticket with the code SKIMM50.

Skimm'd by: Marisa Iallonardo, Stephanie Gallman, Molly Longman, Aryanna Prasad Bhullar, Erika W. Smith, Jessica Prois, Marina Carver, and Kylie McConville. Fact-checked by Sara Tardiff.