Page 5 - Price Hike

Consumer gas prices in Germany to remain high for most of 2023: Minister

To secure Germany's gas supply, liquefied natural gas terminals were being constructed to create new infrastructure for imports

IGL hikes CNG price in Delhi-NCR by 95 paise to Rs. 79.56 per kg from today

It will be the costliest in Gurugram, with a kg of CNG priced at Rs. 87.89 from today

Denmark's price of electricity surges by 83% in 12 mths as gas prices rise

According to experts, the skyrocketing electricity prices over the past year are primarily fuelled by the rising gas prices

Microsoft India hikes prices of products and services by up to 11%

The company said the Indian rupee pricelist changes to harmonise its prices for commercial on-premises software and online services between India and the Asian region, effective February 1

Maruti Suzuki to hike prices of its models from January amid cost pressure

The country's largest carmaker Maruti Suzuki India on Friday said it will increase prices of its models with effect from next month. In a regulatory filing, the company said it continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added. The company has planned the price increase in January 2023 which shall vary across models, the auto major said without disclosing the exact quantum of the increase.

Hero MotoCorp to hike prices from Dec 1 due to inflationary costs

The country's largest two-wheeler maker Hero MotoCorp on Friday said it will increase the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1. The price will increase up to Rs 1,500, and the exact quantum of the hike will vary by specific models and markets, the company said in a statement. "The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs," Hero MotoCorp Chief Financial Officer Niranjan Gupta said. The company will continue to provide innovative financing solutions in order to cushion the impact on the customers, he added. "We have also put in place accelerated savings programmes, which will help us to offset any further cost impact, and drive improvement in margins," the two-wheeler major said. Moving forward, the economic indicators are favourable to a growth in demand, and the company expects industry volumes to pick up in coming quarters, it added.

Wheat flour prices jump over 17% in one yr, now closer to sugar, rice: Rpt

The rise in wheat flour prices has come on the back of an increase in wheat prices as well

Wheat prices being closely monitored, export ban led to rise in stock: Govt

Food Secretary Sanjeev Chopra said wheat prices have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent

Majority of shoppers in APAC concern about price hike on essentials: Survey

A significant number of shoppers in the Asia Pacific region are concerned about the rise in prices of everyday essentials, Zebra Technologies said on Wednesday. The company is into providing retail technology and automation solutions. "76 per cent in APAC are concerned about inflationary price increases on everyday essentials, they are not necessarily leaving stores without the items they wanted due to price," the company said in a report. The company surveyed 1,006 entities, including 750 shoppers, in the APAC region. About eight-in-10 shoppers in APAC prioritise their spending with retailers that offer easy returns. "Nearly half of surveyed retailers are converting space in their stores for order pick-up, supporting consumer fulfillment preferences. Mobile ordering continues to increase, with around eight-in-10 shoppers and nine-in-10 millennials using it, and around seven-in-10 shoppers wanting more retailers to offer such services," the report said.

Japan's economy shrinks 1.2% in July-Sept qtr as consumer spending declines

The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world's third-largest economy shrank 0.3% on-quarter, according to government Cabinet Office data released Tuesday. The annual rate shows how the economy would have grown if the quarterly rate were to continue for a year. Japan's GDP, or the sum of the value of a nation's products and services, was weaker than analysts had expected, coming after three quarters of moderate growth. Like many nations, Japan has suffered as the coronavirus pandemic slammed industrial production and tourism. Private consumption grew 0.3% in July-September, slowing down from the 1.2% growth recorded the previous quarter. Private investment grew 1.5%, down from 2.4% growth in the previous quarter. Another factor is the Japanese yen's fall against other currencies, especially the U.S. dollar. The Federal Reserve has

Cement companies mull price hike of Rs 10-30 per bag in November: Report

On a month-on-month (MoM) basis, prices rose by 2-3% in the East and South, and about one per cent in the West; while declining 1-2% in the northern and central regions, the report said

Despite drop in cost, companies continue to raise prices on consumers

Some companies and restaurants have continued to raise prices on consumers even after their own inflation-related costs have been covered

Delhi govt hikes auto-rickshaw, taxi fares in view of rising CNG prices

The Delhi government has approved a hike in auto-rickshaw and taxi fares in view of rising CNG prices in the national capital, according to an official statement on Friday. According to the revised fares, the metre down charge (minimum fare) for the initial 1.5 kilometre for auto-rickshaws has been increased from Rs 25 to Rs 30, while the per kilometre charge after metre down has been hiked from Rs 9.50 to Rs 11. For taxis, the per kilometre charge after metre down has been hiked from Rs 14 to Rs 17 for non-AC vehicles and from Rs 16 to Rs 20 for AC vehicles. The last revision in the auto-rickshaw fares happened in 2020 while that for taxi which includes black-and-yellow taxi, economy taxi and premium taxi happened nine years back in 2013. Delhi Transport Minister Kailash Gahlot had received many representations from the auto-rickshaw and taxi associations and unions on the issue of hike in fares.

Colgate-Palmolive's India arm beats Q3 earnings estimates on price hikes

Sales increased nearly 3% to Rs 13.78 billion

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 ...