Inflation gauge shows slower year-over-year gain in May | Slower inflation leads US consumer sentiment to 4-month high | Rail acquisition to spur new corridor
The personal consumption expenditures price index for May was up 3.8% from a year earlier, marking a deceleration from the 4.3% year-over-year gain in April. A core index that excludes volatile food and energy categories rose 4.6% from a year earlier, down from 4.7% in April.
US consumer sentiment improved at the end of June as the University of Michigan's consumer sentiment index rebounded from a May slump, with the recovery largely attributed to the resolution of the US debt ceiling standoff and improved inflation expectations. Consumers expect prices to rise by 3.3% over the next year and 3% over the next five to 10 years, but remain cautious about their personal finances.
Canadian Pacific Kansas City and CSX are purchasing separate assets from Genesee & Wyoming's Meridian & Bigbee Railroad for an undisclosed amount that will enable the duo to launch an interchange connection in Alabama and create a corridor that links Mexico with Texas and the US Southeast. The deal is subject to regulatory review and will require US Surface Transportation Board approval.
Reduced port backlog, in-stock groceries, new trucking companies and reduced ocean shipping and gas prices are among signs that supply chains are normalizing, according to the White House. The "high correlation between [Producer Price Index] and supply chain pressures suggests that the easing we are seeing in supply chains may continue to show up in measures of inflation," the White House said in a blog post.
Supply chain executives are taking a "tepid" approach to investing in technology to enhance supply chain resilience because they find the idea too vague, assume they have adequate capabilities or don't really understand how it can help them "look around the corner," according to a PwC study. PwC offers five actions executives can take to enlist technology to mitigate risk and enhance resilience, such as including "impairment planning in supply chain decisions" and building "research and development and product development capacity to fuel growth."
Digital transformation -- such as incorporating machine intelligence into your supply chain -- offers several benefits and challenges, and Arindam Mukherjee, an IT supply chain architect and author, explains these and tells how to make such transformation successful. For example, defining and communicating processes and laying out an "efficient data and governance approach" are crucial, Mukherjee writes.
A digital landscape requires three shifts in business-to-business budgets if companies want to maximize returns on investment, financial editor Deanna Ritchie writes. Ritchie details the best spending on digital interaction, information-based marketing and tools for internal communication and productivity.
Nearly 75% of marketers plan to boost retail media spending this year, with approximately 60% offering discounts and deals and 43% planning to use augmented or virtual reality content, per LiveIntent research. While 63% say RMN marketing is more effective than other digital channels, 44% say accurate campaign reporting remains an issue.
Three separate reports highlight the difficulties companies may experience when insisting employees return to in-person work and abandon more flexible arrangements, including issues with attrition and recruitment.
Discerning leaders realize that a culture of kindness "is one of the most powerful, strategic, and accessible tools of all [and] lays the groundwork for the retention and recruitment of top talent," writes Miles Nadal, an entrepreneur, philanthropist and founder of Peerage Capital. Kindness also promotes innovation and stronger revenue while building "informal connections and corporate community across distance and diverse markets," Nadal explains.
