Page 5 - Price Hike

Retail prices of essential food items spike significantly in one year

The average retail prices of essential food items, including rice, wheat and atta, have significantly increase in the last one year

In Mumbai, taxi and auto fares to go up by Rs 3 and Rs 2 from Oct 1

Residents of Mumbai and the metropolitan region will have to pay Rs 28 as the minimum fare for travelling in black and yellow taxis and Rs 23 for auto rickshaws, with the basic fares being hiked by Rs 3 and Rs 2 respectively, authorities said on Tuesday. The new fares will come into effect from October 1, the Mumbai Metropolitan Region Transport Authority (MMRTA) said in a release. The minimum fare for a distance of 1.5 km for kaali-peeli taxis has been hiked to Rs 28 from Rs 25 and the same to Rs 23 from Rs 21 for auto-rickshaws. "Beyond this minimum flag down distance, passengers will have to pay Rs 18.66 per km instead of Rs 16.93 per km for taxis and Rs 15.33 a km instead of 14.20 (per km) for auto-rickshaws," the release said. The decision to hike the fares was taken in the MMRTA meeting chaired by the Maharashtra transport secretary on Monday. But it was announced only after the minutes of the meeting were signed. The existing fare for around 60,000 taxis and about 4.6 lakh

Apple to increase app store prices from Europe to Asia next month

Though it's faring better than some tech peers, Apple has grown more cautious as it confronts a sputtering economy

Indonesia's fuel price hike affects tourism sector after rising inflation

Indonesia's inflation at the end of August reached 4.6% year on year, slightly lower than the previous month's 4.9%, and both figures exceeded the central bank's target range from around 2 to 4%

No proof that commodity derivatives trade causes price spikes, finds study

Suspension of their futures does not bring down price volatility either, finds study conducted on behalf of NCDEX Investor Protection Fund

Steps to check prices will be felt more significantly in few months: FinMin

The Finance Ministry on Monday attributed the rise in inflation to base effect and increase in food and fuel prices, and stressed that initiatives taken by the government to curb price rise will be felt more significantly in the coming months. According to the data, the retail inflation inched up to 7 per cent in August from 6.71 per cent in July. The ministry further said that the core inflation, which is calculated by excluding the transient components of CPI --'food and beverages' and 'fuel and light' at 5.9 per cent remained below the tolerance limit of 6 per cent for the fourth consecutive month. "The headline inflation based on retail CPI recorded a moderate increase from 6.71 % in July 22 to 7.0 % in August 22. This increase is attributable both to an adverse base effect and an increase in food & fuel prices - the transient components of CPI inflation," the ministry said in a series of tweets. This is the second instance since RBI adopted the inflation targeting approach ...

India's rice export curbs paralyse trade in Asia as prices rise: Industry

"India accounts for more than 40% of global shipments. So, nobody is sure how much prices will rise in the coming months," said Himanshu Agarwal, executive director at Satyam Balajee

It's no walkover for tile makers staring at competition, gas prices

Shaky Ground: Price hikes, too, may imperil demand

Alcohol-maker Diageo halts some whiskey sales to push for price hikes

The move to stop sales rather than see margins continue to erode is a risky bet, analysts at Mumbai-based Dolat Capital wrote last month, that could complicate the firm's pivot to premium products.

UK inflation hits double digits in July for the first time in 40 years

The Consumer Prices Index rose 10.1% in July in the UK from a year earlier after a 9.4% gain the month before

Congress to hold 'Mehangai Par Halla Bol' rally on Aug 28 in Delhi

In a statement the party said the Congress party will take this fight forward with a series of protests against the price rise and unemployment in the coming weeks

West Bengal: Cong workers stage protests against price rise, unemployment

Around 50 Congress workers demonstrated outside the governor's residence, wearing black clothes, holding placards and shouting slogans.

Congress protest aimed at saving Gandhi family from corruption charges: BJP

BJP's Ravi Shankar Prasad noted that it was Rahul Gandhi's grandmother and then prime minister Indira Gandhi who had suspended people's democratic rights by imposing Emergency.

French lawmakers approve $20.3 bn to help households amid rising prices

The 395-to-112 vote came after a heated debate at the National Assembly, where French President Emmanuel Macron no longer has a majority.

Monsoon session: Lok Sabha to take up discussion on price rise today

The Lok Sabha will finally take up a discussion on price rise under rule 193 on Monday

Nestle raises growth outlook for '22, eyes consumer reaction to price hikes

Nestle warned on Thursday that price hikes could eventually weigh on sales volumes for the maker of Cheerios cereals, Kit Kat bars and Nescafe as it raised its full-year sales growth forecast to 7-8%

A dozen bananas likely to cost Rs 100 in Delhi, thanks to rains and exports

Traders have attributed this spike to higher exports, rising transportation and storage costs, and a widening gap between demand and supply

Oppn disrupts LS proceedings; protests price rise, ED summons to Sonia

Lok Sabha proceedings were adjourned briefly as Opposition parties voiced their protest against rising prices, ED summons to Congress president Sonia Gandhi for questioning in a money laundering case

Asia's central banks forced to play catch-up in global rush to raise rates

Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation and defend weakening currencies

India's economic recovery falters as high prices, falling rupee bite

India's economic activity showed early signs of cooling off in June as acute price pressures, rising interest rates, and a falling rupee dampened sentiment after a strong showing the previous month