The Daily Valet. - 6/11/21, Friday

✔️ Prices Surge

Friday, June 11th Edition

Cory Ohlendorf, Editor in Chief of Valet.

Prices may be rising, but this newsletter remains free of charge.

Cory Ohlendorf, Editor ⋯ @coryohlendorf

Today’s edition is presented by

Today’s Big Story

U.S. Consumer Prices Jump 5%

The rapid rise reflects the largest inflation surge in 13 years

The American economy’s rebound from the pandemic is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by 5% from a year ago.

The Labor Department said the increase in the consumer-price index was the largest since the Great Recession (in August 2008). But a separate reading showed the U.S. labor market continues to heal from the pandemic—initial claims for unemployment benefits have fallen to another pandemic low.

But this isn’t exactly surprising. According to the Washington Post, price spikes often coincide with downturns. And officials from the Federal Reserve have predicted that prices will climb over the coming months—especially compared with a year ago, when the economy was reeling from coronavirus pandemic shutdowns.

Much of the increase is due to the rising costs of airfares along with new/used vehicles and furniture. Grocery prices have gone up 2.4%, while restaurant prices have increased 3.8%. Higher shipping costs also increased the cost of products (especially food), due to pandemic shutdowns and the Suez Canal blockage in March.

While prices are surging, the Federal Reserve has been largely dismissive of the numbers, reports CNBC. The 5% number in particular is getting a boost from what’s called a base effect: The year-ago figure was depressed by shutdowns, so the current readings appear larger by comparison.

This will, no doubt, lead to some uncomfortable political conversations, but it’s unlikely to rattle the Biden administration. Central bank officials and most economists have said much of the jump is likely to fade with time as the economy gets past a reopening bounce and supply catches up.

↦ FYI: Compared with two years ago, overall prices rose a more muted 2.5% in May.

A Fifth Ocean?

National Geographic now officially recognizes new Southern Ocean

For the first time in over a century, there's a new ocean on the map.

That's according to National Geographic, which just announced that it is officially recognizing the body of water surrounding the Antarctic as the Southern Ocean, making it the fifth ocean alongside the Arctic, Atlantic, Indian and Pacific.

It stretches in a ring off of Antarctica's coastline to 60 degrees south latitude (excluding the Drake Passage and the Scotia Sea). The newest body of water clocks in as the second-smallest, after the Arctic Ocean. But the area is still slightly bigger than twice the size of the U.S., reports the CIA.

The waters encircling the southern continent have distinct ecological characteristics, including its unique current patterns better known as the Antarctic Circumpolar Current, or ACC for short.

↦ Meanwhile: The Hoover Dam reservoir is at a shocking, all-time low.

Partner

Like iced coffee? Then you're definitely going to have to try this.

Luxury Van Life

Airstream is launching a camper van aimed at adventure-seeking nomads.

Now that we're a decade or so into the #VanLife movement, there’s no shortage of YouTube videos where Millennial nomads take you through the process of converting a van into an Instagram-worthy mobile home.

But according to InsideHook, Airstream's new Interstate 24X camper van is tailored for people who want a turnkey vehicle ready for their next adventure.

Unveiled on Thursday, the Class B touring coach from the folks behind the iconic silver bullet trailer is purpose-built to go off the grid. It's also the most expensive model in their Interstate lineup, with prices starting at a very un-#VanLife $213,850.

Reconfigurable is the name of the game with the Interstate 24X's interior layout, with a number of different bed configuration choices and a modular table system that allows users to move the van's dining table to one of four different places, including one that turns it into a standing desk for remote workers.

Netflix: The Store

The streamer is now in the merch game

The world's biggest streaming company is planting a flag in the territory of e-commerce with a new store for branded merchandise.

What's it selling? Exclusive, limited editions of “carefully selected, high-quality apparel and lifestyle products tied to our shows and brand on a regular basis,” one exec told Variety.

Products debuting this month on Netflix.shop are streetwear and action figures based on anime series Yasuke and Eden as well as limited-edition apparel and decorative items inspired by French thriller series Lupin in collaboration with the Musée du Louvre.

Definitely keeping things limited and timely will keep people interested. I guess the shop will only be as good as the merch itself. So we'll all be watching this space (in between binging shows, of course).

↦ Big Business: Sales of licensed products tied to shows, films and characters totaled $49 billion in the United States in 2019, and $128 billion globally.

In Other News

↦ Little Lady Liberty: France Is Sending the U.S. a Second, Smaller Statue of Liberty

↦ Man Finds Cold War Bomb Shelter Under His Home

↦ This $2,700 Robot Dog Will Carry a Single Bottle of Water for You

Other Things We’re Talking About Today

The coolest stuff under $20

Making friends while WFH

Architecture terms

Partner

Iced Coffee, Southern Style

If you prefer cold brew, then you’ve got to try it New Orleans-style

Summertime means never taking your coffee hot, right? Blue Bottle's New Orleans–Style Iced Coffee is one of the brand's most popular drinks year-round. It's been a customer-favorite ever since founder James Freeman started making it to sell at farmers markets in the San Francisco Bay Area.

Known as the NOLA, the sweet, milky coffee that is cut with chicory can also easily be made at home with this kit, which includes a darker roasted whole-bean coffee and toasted ground chicory. The recipe is our take on a style traditional to New Orleans and yields a rich concentrate, to which you can add the sweetener and milk of your choice. It's easy to make no matter your setup, but for a flawless process, they recommend the Toddy Cold Brew System, which is what they use in the Blue Bottle cafes. Get a bag or start a subscription and be set all summer long.

↦ Exclusive Deal: Start a subscription today and get $5 off

Up Your Summer Coffee Game

The perfect tools to craft exceptional cold brew coffees at home.

Best for NOLA iced coffee at home: Toddy Cold Brew System, $40

Add coffee, water and time: Hario Cold Brew Bottle, $35

Keep your cold drinks refreshing: Miir Commuter Cup, $24.95

A Weekend Pairing

In the Heights + a Mamajuana Cocktail

The musical that put the Hamilton's Lin-Manuel Miranda on the map is finally coming to the big screen. According to the A.V. Club, the film adaptation of In the Heights preserves much of the intimacy of the Broadway show while ramping up the splendor and significantly expanding the time frame. It goes beyond merely re-creating its source material for the screen.

The Hollywood Reporter calls it “a stirring valentine to a neighborhood and its people that stared gentrification in the eye and stood their ground, staying true to their cultural identity.” The film celebrates the American dream without irony even as it takes note of certain contradictions. In short, it's a good summery vibe, available now in theaters and on HBO Max.

↦ Your Pairing:The mamajuana is the Dominican national cocktail and is sometimes referred to as the country's take on sangria. Bon Appétit says you can use a number of tropical bark and herbs, as long as they're stuffed in a jug and steeped in aged rum, sweet red wine and honey.

More Gifts for Dad

Father's Day is upon us (you've got 10 days) but shopping for Dad is never an easy job. He says he doesn't need anything, but this past year has taught us how much family matters. Treat the dad (or dad-like dude) in your life to something special.

↦ Explore: 37 well-vetted gift picks