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Hey there from CNN. I'm Krista Bow with the five things you need to know for Tuesday, July 15th.

Inflation heated back up in June, rising to its highest level in four months. The Bureau of Labor Statistics reports consumer prices rose 0.3% last month,

and the annual inflation rate was higher 2 at 2.7%, the highest since February.

Both reads, though, are what economists had expected,

as President Donald Trump's trade policy and tariffs packed a bigger punch.

A White House official downplayed any link between the effects of tariffs and the inflation

uptick.

They cited that prices of cars, which have been among the most heavily tariffed imports,

actually fell by 0.3% last month, for new vehicles.

While they downplayed, price rises in apparel and home furnishings, which are still

down over a three-month period.

That's what rushing floodwaters sounded like in Bridgewater, New Jersey last night, where

my dad was working to contain the damage.

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