Inflation Squeeze, Cannes Kicks Off, and a Mars Rover Selfie

 Need To Know 

Prices Up, Wages Down

Inflation outpaced wage growth in April for the first time in three years, according to a Labor Department report released yesterday. Inflation-adjusted hourly wages fell 0.3% year-over-year, as inflation climbed 3.8%—its fastest increase in three years.

Economists largely attribute rising inflation to the energy chokehold caused by the Iran war's effective closure of the Strait of Hormuz, a critical shipping route for about one-fifth of the world’s oil and natural gas. Energy costs climbed roughly 18% from a year earlier, with gasoline up 28% and airfare up 21%.

Meanwhile, core inflation, which excludes food and energy prices, rose 2.8% year-over-year. The Federal Reserve closely watches this less volatile number when weighing interest rate cuts. Yesterday's report bolstered expert predictions that the central bank will not lower interest rates until mid-next year. (Explore the connection between interest rates and inflation here.)

Energy isn't the only culprit: Tomatoes are almost 40% more expensive than last year. How is this possible?

PCOS by Another Name

The disorder long known as polycystic ovary syndrome is getting a name change after years of scientific review in an effort to better help diagnose the condition. Formerly called PCOS, the hormonal imbalance—now known as polyendocrine metabolic ovarian syndrome, or PMOS—affects one in eight women.

The condition was first identified in the 1930s, when doctors operating on women noticed lumps on their ovaries, which they described as cysts. It turns out PMOS patients are not more likely than others to have pathological cysts. Instead, they have a large number of follicles that fail to fully mature. In 2012, the National Institutes of Health recommended a name change; today, up to 70% of PMOS cases are believed to go undiagnosed. The misconception about cysts—and an overemphasis on gynecologic criteria—are believed to play a role (how does PMOS impact skin?).

Some men appear to have PMOS-like symptoms, including insulin resistance, obesity, and early balding. Learn about the effort to explore a possible “male form” of PMOS here.

Lights, Camera, Cannes

The 79th Cannes Film Festival kicked off yesterday, with 22 films competing for the festival’s top prize, the Palme d’Or (see the “golden palm”). South Korean director Park Chan-wook will lead the nine-member competition jury, which includes actress Demi Moore.

The festival officially opened with Pierre Salvadori’s “The Electric Kiss,” following a preopening screening of “Pan's Labyrinth,” shown again 20 years after its record 22-minute ovation. Other anticipated films include Pedro Almodóvar’s “Amarga Navidad,” Ira Sachs’ “The Man I Love,” and John Travolta’s directorial debut, “Propeller One-Way Night Coach.” A midnight screening of “The Fast and the Furious” will mark the franchise’s 25th anniversary. The festival will also celebrate Barbra Streisand and Peter Jackson as honorary Palme d’Or recipients. See a lineup of all films here.

See the best looks from the red carpet (so far). Off the carpet, take a walking video tour of the City of Stars here.

Did you know local hotels hire hawks to stop seagulls from stealing croissants? Get more on Cannes in Saturday's 1440 Society & Culture newsletter.

Sports, Entertainment, & Culture

> Memphis Grizzlies forward Brandon Clarke dies at age 29; cause of death was not announced as of this writing (More) | Jason Collins, NBA's first openly gay player, dies at age 47 of brain tumor (More) | Man receives two years in prison for stealing unreleased Beyoncé music, set lists, and more from a parked car (More) 

> Author Rick Riordan announces four middle-grade novels set between his first and second "Percy Jackson" series novels; first installment comes out Sept. 29 (More) | Riordan shares how his son’s school struggles inspired the bestselling series (More)

> Film critic Rex Reed, who was known for his scathing takes, dies at age 87 (More) | Read his last review, written about the drama "Truth and Treason" (More) 

Science & Technology

> FDA Commissioner Marty Makary resigns amid disagreements with the White House over fruit-flavored vapes and the abortion medication mifepristone (More)

> Personalized vaccine appears to extend survival of patients with glioblastoma, an aggressive and incurable brain cancer; one patient is recurrence-free nearly five years after treatment (More) 

> Waymo recalls nearly 4,000 robotaxis over dangerous behavior on flooded roads; an unoccupied vehicle was swept away in a San Antonio flood last month (More) | Watch cars maneuver around a stalled Waymo during a storm (More) 

Business & Markets

> US stock markets close mixed (S&P 500 -0.2%, Dow +0.1%, Nasdaq -0.7%) (More) | The stock market explained in three minutes (More)  

> Kevin Warsh wins Senate confirmation to 14-year term as Federal Reserve governor; separate vote ahead on whether he'll replace Jerome Powell as chair when Powell's term ends Friday (More) | Why the Fed matters more than ever (More) 

> eBay rejects GameStop's $56B takeover bid amid concerns over financing uncertainty and the debt load the deal would add to the company (More) 

Politics & World Affairs

> President Donald Trump travels to Beijing for meeting with Chinese President Xi Jinping; talks expected to cover trade, the war in Iran, energy, and Taiwan (More) | Why did experts believe China would invade Taiwan in 2027? (More) 

> Federal prosecutors charge two international ship operators and one Indian national employee over the 2024 Francis Scott Key Bridge collision that killed six people (More) | How the bridge collapsed (More, w/maps and photos)

> Fatal collision at Denver International Airport this week is determined to be a suicide (More) 

See NASA’s Perseverance Rover take a selfie on Mars.

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Historybook: The US declares war against Mexico in dispute over Texas (1846); "Golden Girls" actress Bea Arthur born (1922); Stevie Wonder born (1950); Pope John Paul II is shot, survives assassination attempt (1981); Actress and singer Doris Day dies (2019).