Producer prices dropped 0.3% from April to May, according to the Labor Department's producer price index. Producer prices were up 1.1% from a year earlier, marking the smallest year-over-year rise since December 2020. The core producer price index, which cuts out food and energy, increased 0.2% from April and 2.8% from a year ago.

Most distributors are primarily concerned with near term economic conditions, followed by inflation, higher operating costs and labor issues, according to Industrial Distribution's Survey of Distributor Operations. Additional areas distributors are taking a closer look at include competition, business growth, mergers and acquisitions, disaster preparedness and technology updates.

The food-at-home consumer price index in May increased 0.1% month over month and 5.8% from a year ago, far less than the 11.2% increase in September. Prices for produce and nonalcoholic beverages climbed while cost for eggs, meat, cereals and dairy decline.

More than seven in 10 small and mid-size US businesses plan to move all or part of their supplier network to North America, primarily to alleviate unreliable delivery timeframes, inconsistent quality of delivered goods and insufficient sustainability, according to software firm Capterra. Slightly more than 90% of the businesses say shortening supply chains is vital for "long-term success," and they have switched an average four overseas suppliers to North American counterparts during the past two years.

The collapse of a section of Interstate 95 in Philadelphia that serves roughly 150,000 vehicles a day will cause significant delays for summer travelers and truckers that use the path to reach north and south destinations and to access the Philadelphia International Airport and the Philadelphia Port, say experts. Road rebuilding is expected to take months and the detour that adds more than 40 miles to a trip "will add significant cost in time, fuel and delays," says an American Trucking Associations spokesperson.

After a six-year build, the Suntrax autonomous vehicle test facility in Auburndale, Fla., has opened. The facility simulates urban intersections and complex signalization conditions, among other things.

By engaging with the community and participating in local events, a small business can build its reputation, which could help attract customers and workers. Community relations can create a "halo effect of goodwill," says Nicole Gainer of Red Thread PR x Brownstein Group.

Business-to-business marketers from Esquire Bank, Henkel, Skona, Wasabi and Pega talk about driving business growth using creativity. Esquire Bank's Kyall Mai explains how a "content marketing strategy with knowledge leadership at its core" engages busy prospects and Skona's Jenny Sagstrom describes how the B2B agency helps clients build their brand using a "BrandGen" strategy.

The Biden administration is working to mediate the escalating tensions between the West Coast dockworkers' union and port employers to prevent disruptions in cargo operations. A grace period has been agreed upon, pausing potential job actions by dockworkers until the end of the week. Contract negotiations have been ongoing since May 2022, with wages and pension benefits among the main points of contention between the two sides.

US Treasury Secretary Janet Yellen said the US is concerned about the potential negative impact of the EU's Corporate Sustainability Due Diligence Directive on US firms. The CSDDD aims to hold companies accountable for human rights and environmental violations throughout supply chains. Yellen expressed support for the directive's objective but said there's concern about its "extra-territorial scope."

It's often a challenge for leaders to walk the tightrope between being overly confident in their skills, or feeling like an imposter, writes Jay Steven Levin, a principal with WinThinking, who suggests ways to find that sweet spot "between self-assuredness and humility. "Find the courage to lead with audacity, yet the humility to learn and grow," Levin suggests.