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Economy
14 February
Inflation's cooldown slows, as prices rose 6.4% in January
The Consumer Price Index shows shelter inflation is becoming a driver of price increases.

Photo by Tierra Mallorca on Unsplash
Inflation’s cooldown slowed in January, as higher prices for shelter became a bigger driver of increases.
On Tuesday, the Consumer Price Index from the U.S. Bureau of Labor Statistics shared the following data on pricing for January 2023:
On a monthly basis, inflation rose 0.5%. This came after prices ticked up a narrow 0.1% in December.
On an annual basis, inflation rose 6.4% from the same month of 2022. While this is the smallest annual increase since October 2021, it is down only slightly from the 6.5% annual rate in December.
Core inflation, which leaves out volatile food and energy indices, rose 5.6% from a year ago, which was the smallest 12-month increase since December 2021. This was down from 5.7% in December.
Food inflation continued to rise, as four of six major categories recorded increases. The food at home index, which includes groceries, rose 11.3% on an annual basis. There was some moderation in this category, as it was down from 11.8% in December.
Notable price increases were observed in shelter, which drove the increase in core inflation. Apparel and household furnishings also saw prices tick up.
What’s the takeaway?
Stubborn inflation: After three months of pronounced cooling, inflation’s downward slope flattened in January. It’s just one month of data, but shows that the path to bringing prices down may not always be a smooth one.
Adding that inflation remains up 14.4% on a two-year basis, GlobalData Managing Director Neil Saunders said the report shows there is a "clear risk" that inflation will continue to dominate in 2023. This is being driven in part by continued spending, even in the face of higher prices.
"There have been some areas of modest improvement since last month, but most shoppers are still firmly in money-saving and budgeting mode," Saunders said. "One of the issues, however, is that despite some changes in behavior overall demand remains fairly strong. While consumers are cutting back at the margins, they are still spending which is not allowing the economy to cool and inflation to wither."
Economists have warned of the risk that inflation could rise again, even after it begins to descend. That’s not the trend being observed here, but the slowdown will get the attention of the Federal Reserve’s top committee as they weigh their next moves on interest rates.
Shelter rising: Inflation is also moving to other categories. For months, food and gas drove the Consumer Price Index increases. Food is coming down, while gas prices only increased 1.5% for the month. But now, it is shelter, which includes rent, that is proving to be a major factor in inflation. This could continue to impact discretionary spending, as people who are paying more for rent will try to save money in other areas.
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Marketing
17 March
Kellogg's takes inspiration from employees, Latin in snacks rebrand
Kellanova is now the parent of Pringles, Cheez-Its and Pop Tarts.
Photo by Jeff Siepman on Unsplash
Kellogg Company's snacks business is now Kellanova. Here are a few finer points about how the forthcoming parent of Cheez-Its and and Pop-Tarts arrived at the new name.
Last year, Kellogg announced plans to split its business into multiple companies.
Now, one company will have North American cereals like Frosted Flakes, Froot Loops and Rice Krispies under the WK Kellogg Co banner.
Another will have snacks like Pringles, North American frozen foods such as Eggo and plant-based brands like MorningStar Farms.
This week, Kellogg announced that the snacks business has a new name: Kellanova.
Here are the strategies that Kellogg employed that led to this name:
- Ask the employees: Kellogg Company asked employees for input on the name, and received 4,000 suggestions from 1,000 employees.
- Listen to the results: 20% of the employees suggested a variation of the W.K. Kellogg name, while other employees suggested that the name include "nova."
- Go to the root: "Nova" comes from the Latin word for new. CEO Steve Cahillane said it "signals our ambition to continuously evolve as an innovative, next generation, global snacking powerhouse."
As The Wall Street Journal reports, this is just the latest new company name to take a Latin root in recent years, as Kellanova joins GE Vernova, Mondelez and Altria. It's also among a number of spinouts being completed by corporations, joining GSK spinoff Haleon, J&J's Kenvue and a forthcoming company that will spin out of 3M.
Even with a name that emphasizes moving forward, Kellanova is keeping one element that is familiar: The logo still has the iconic cursive K. It will even get the boldly simple stock ticker symbol "K" to go along with it.
(Courtesy photo)
Even the WK Kellogg Co is combining the past and future. The company is seeking to position itself as a "117-year-old startup," even as it draws on the name and signature of the Kellogg's founder. There's even a more subtle hint about an unwritten chapter: The "Co" doesn't have a period.
(Courtesy photo)
To get to the future, you need to bring along a bit of the past.
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