Price

The consumer price index was expected to decrease 0.1% on a monthly basis and increase 6.5% from a year ago in December, according to Dow Jones.

That would represent another step down for the central bank after it approved four consecutive 0.75 percentage point hikes last year before slowing down to a 0.5-point increase in December. The Federal Reserve prefers a different gauge that adjusts for changes in consumer behavior. A steep drop in gasoline was responsible for most of the monthly decline. There was some indication in the data that consumer are shifting behavior. Following the CPI report, market pricing pointed toward an increased probability that the Fed would approve a 0.25 percentage point rate increase on Feb. "We know that we won't get the same kind of support from gasoline prices. Policymakers are weighing how much further they need to go with interest rate hikes used to slow the economy and tame inflation. That equated to the largest month-over-month decrease since April 2020, as much of the country was in lockdown to combat [Covid](https://www.cnbc.com/coronavirus/). Even with the decline, headline CPI rose 6.5% from a year ago, highlighting the persistent burden that the rising cost of living has placed on U.S. Medical care services increased 0.1% after dropping for two straight months, while apparel prices rose 0.5% and transportation services were up 0.2% and are still 14.6% higher from a year ago. Obviously, it's still painfully high, but it's quickly moving in the right direction," said Mark Zandi, chief economist at Moody's Analytics. However, that was the smallest annual increase since October 2021.

South Africa's energy regulator has explained why it approved a 18.65% electricity tariff increase.

The increase will kick in on 1 April 2023. Nersa approved revenues of R318 billion for the 2023/4 financial year and R352 billion for the 2024/5 financial year. He is the former chair of the board of PetroSA, and previously served as a technical advisor to the Minister of Energy in addition to various other high-level advisory roles. - The utility’s primary energy costs are expected to increase by 7.8%, the majority of which is due to increased diesel and fuel oil prices and higher usage of these products for Eskom’s open-cycle gas turbines (OCGTs). Despite the amendments, Eskom said its total revenue as applied for in June 2021 — R335 billion for the 2023/4 financial year and R365 billion for the 2024/5 financial year — remained roughly the same. [Eskom asked the regulator](https://mybroadband.co.za/news/energy/460750-eskom-wants-a-32-power-price-hike.html) to approve a 32.02% price increase in its annual tariff application.

South Africa's energy regulator on Thursday approved an 18.65% power price rise for beleaguered state utility Eskom for the financial year starting on April ...

therefore what debt should I take," the minister told Reuters. His government plans to take on part of Eskom's roughly 400 billion rand ($24 billion) debt. It implemented power cuts on more than 200 days last year, the most in a calendar year.

The most in over a decade … but Nersa says no to 32% price hike for the 2024 financial year. By Paul Burkhardt, Prinesha Naidoo and Colleen Goko, Bloomberg ...

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The cost of food is still hard to swallow, but the latest Consumer Price Index shows that those price increases — by and large — are at least growing at ...

Milk: +12.5% annually; -1% from November Bread: +15.9% annually; +0.2% from November Flour and prepared flour mixes: +23.4% annually; -1% from November Lettuce: +24.9% annually; +4% from November And then maybe it’s 2024 where we could eventually see some deflation for food.” Eggs: +59.9% annually; +11.1% from November “It makes it extremely challenging for a mom-and-pop [business].” That was compounded by increasing demand and higher input costs, such as feed. Quinn has run daytime eatery The Hungry Monkey Café in Newport, Rhode Island, with his wife, Kate, since 2009. Since early last year, Energy costs have improved, but they still remain relatively high. [data released Thursday by the Bureau of Labor Statistics.

As inflation eases, the costs of eggs remain high – hitting an average of $7 a dozen in California. Here's why.

A recent eggs market overview [report](https://www.ams.usda.gov/sites/default/files/media/Egg%20Markets%20Overview.pdf) from the USDA says that while wholesale prices of carton eggs begins to lower and demand loosens from holiday levels, consumer demand remains higher entering the new year compared to 2022, and average price is $4.25 per dozen. [report](https://www.calmainefoods.com/investors/press-releases/) from Cal-Maine Foods, a top U.S. The previous outbreak, which lasted between initial detection of the HPAI virus in December 2014 and final detection June 2015, had been one of the most significant animal health events in the U.S., according to a The avian influenza which has affected a majority of bird and egg producers across the U.S. In the event we get the outbreak under control, it will be better every month,” he said about egg prices. remains $4.25—over twice what it was a year ago—and while increased inflation in 2022 has contributed somewhat, the real reason egg costs remain high (as inflation otherwise eases) is an avian flu that has decimated chicken farmers, causing as many as 57 million chickens to be affected. [report](https://www.aphis.usda.gov/animal_health/emergency_management/downloads/hpai/2015-hpai-final-report.pdf) from the USDA. Department of Agriculture that tracks food price outlook, eggs have risen up to 59% in December 2022, the highest year over year rise in prices among food items. “We need to see if more birds are affected by influenza. [says](https://www.cdc.gov/flu/avianflu/past-outbreaks.htm) the CDC. [according](https://www.cdc.gov/flu/avianflu/avian-in-birds.htm) to the CDC. [report](https://www.bls.gov/news.release/pdf/cpi.pdf) from the U.S.

We get the US 5-10 years consumer inflation expectations from the University of Michigan, which the Fed follows closely. It is currently at 2.9%, whic.

GBP/USD continues to trade in a narrow channel at around 1.2200 in the early European morning on Friday. Gold price is retreating from near eight-month highs of $1,902 reached following the release of the US CPI data on Thursday. Looking at the latest inflation prints of our Nordic neighbours, there might be some downside risk to our estimate stemming from food prices, which declined in both Denmark and Norway (our forecast entail rising food prices). We expect December's soaring electricity prices (expected to have risen by 40% m/m) to lift both CPI and CPIF to new highs at 12.0% y/y and 9.9% y/y, respectively. [bonds](https://www.fxstreet.com/bonds), driven by carry over from an ECB sources story, staged the 4bp lower bond yield on the day. For comparison, the latest Riksbank forecast puts CPIF at 9.1% y/y in December. EUR/NOK remains just north of 10.70 while EUR/SEK is trading close to the 10.30 mark ahead of Swedish inflation. We are in the process of revising our EUR/USD forecasts but we still have a bias towards a lower cross in 6-12M time. While it is notoriously difficult to predict, our expectations are in the lower end of the estimates around EUR100bn (ECB's survey of monetary analysts has a median of EUR130bn, while Bloomberg survey is higher at EUR213bn). Following the release, Fed's Harker (voter) and Barkin (non-voter) favoured slower rate hikes from here, while Bullard (non-voter) said he still prefers frontloading hikes to 'north of 5%'. We think a lot of optimism is now priced into the EUR (Chinese reopening, natural gas prices, outperformance in European equities) which leaves EUR/USD asymmetrically vulnerable to negative news. Core services inflation picked up to 0.5% m/m (from 0.4%), but the uptick was driven by higher shelter and health care components, while the most wage-sensitive components showed easing price pressures.

Tesla has cut prices on its top-selling electric vehicles in the United States and Germany, the automaker's website showed, extending a new strategy of ...

Before the price cut, the five-seat version of the Model Y had been ineligible for that credit, a designation that Tesla Chief Executive Elon Musk had called "messed up." Tesla cut prices in China and other Asian markets last week. In addition, the Tesla move broadened the vehicles in its line-up eligible for the Biden administration tax credit. "This should really boost 2023 (Tesla) volumes," Gary Black, a Tesla investor who has remained bullish on the company and its prospects through the recent, sharp share price decline, said in a tweet. It also cut prices in Austria, Switzerland and France. time on the Model 3 sedan and Model Y crossover SUV, ranged between 6% and 20% compared with prices before the discount, according to Reuters calculations. output and sales. That is before accounting for an up to $7,500 federal tax credit that took effect for many electric vehicle models at the start of January. Along with a previous price cuts announced in October and recent incentives, the China price for a Model 3 or Model Y was down 13% to 24% from September after the recent move, Reuters calculations showed. buyer of the long-range Model Y, the new Tesla price combined with the U.S. In Germany, Tesla cut prices on the Model 3 and the Model Y - its global top-sellers - by between about 1% and almost 17% depending on the configuration. It also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States.

U.S consumer prices fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and motor vehicles, offering hope that ...

The rent measures in the CPI tend to lag the independent gauges. Excluding the volatile food and energy components, the CPI climbed 0.3% last month after rising 0.2% in November. A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 205,000 for the week ended Jan. The unemployment rate is back at a five-decade low of 3.5%. The CPI rose 0.1% in November. The annual CPI peaked at 9.1% in June, which was the biggest increase since November 1981. Price pressures are subsiding as higher borrowing costs cool demand, and bottlenecks in the supply chains ease. That was the smallest rise since October 2021 and followed a 7.1% advance in November. In the 12 months through December, the CPI increased 6.5%. The cost of food consumed at home increased 0.2%. "The mountain peak of inflation is behind us but the question is how steep the downhill is," said Sung Won Sohn, finance and economics professor at Loyola Marymount University in Los Angeles. The report could allow the Federal Reserve to further scale back the pace of its interest rate increases next month.

Electricity bills will be going up from April 1 this year after Nersa granted embattled power utility Eskom a 18.6% tariff increase, 13.4% less than the 32% ...

“For consumers, residential and business, it’s a triple whammy. “The Western Cape has to become independent of Eskom as quickly as possible.” The inability of Eskom to provide a continuous electricity supply has serious economic consequences and now we must pay more for what little we get. Reaction to the price hike was swift and angry with Cape Town mayor Geordin Hill-Lewis calling Eskom’s Nersa-approved 18.65% price hike “unfair, unaffordable and unjust”. The tariff increase is applicable to Eskom’s direct customers and will come into effect in April, while the increase for municipal customers will only be implemented on July 1, 2023. Making the announcement, Nersa chairperson Thembani Bukula said Eskom’s revenue application for the years 2023 to 2025 was considered during a time of severe challenges with economic growth and was expected to affect the South African economic activity in the short, medium and even longer term.

The National Energy Regulator of South Africa (Nersa) may well have approved a lower, adjusted annual price hike for electricity, but as load shedding ...

Nersa has approved revenue of R334bn for the 2024-’25 year.“Eskom notes the decision by Nersa,” said Calib Cassim, Eskom’s Chief Financial Officer. “Once Nersa makes a decision on the restructuring of tariffs (as submitted during August 2020 and 2022), these decisions will ensure Eskom can apply the tariff adjustments to its customers from 01 April 2023,” the power utility explained in a statement. According to Nersa, the increase was adjusted after “conducting due regulatory process.”Eskom applied for a 32% price hike, but after public consultation Nersa received around 2 000 written comments on stakeholders’ concern on the affordability of the proposed increase.

Electric vehicle maker Tesla is cutting prices in the United States and throughout Europe again, according to listings on the company's website.

In late December, Tesla discounted its Model 3 and Model Y cars by about $7,500 to entice customers to take deliveries before the end of the fourth quarter. [angered customers](https://www.reuters.com/business/autos-transportation/protesting-tesla-china-buyers-vow-more-pressure-over-price-cuts-they-missed-2023-01-10/) in China by slashing prices on its Model 3 and Model Y cars there after many had agreed to take delivery at higher prices before Dec. The company had been telling shareholders to expect 50% in annual vehicle delivery growth over a multiyear horizon but fell shy of that annual goal and analysts' expectations in the fourth quarter. Since he took over Twitter and appointed himself CEO in late October, Musk has been splitting time, and sharing some resources, between the social media business and his electric car company. They said, "We believe that many investors underestimate the magnitude of the demand challenges Tesla is facing." According to the independent EV industry researcher, TroyTeslike, the price of a new Tesla Model 3 in the U.S. But it also risks upsetting customers who just agreed to take delivery of new electric cars from Tesla before the end of 2022 at higher prices. Tesla's Model 3 was the bestselling electric vehicle in Germany in December 2022, followed by the Model Y. [Reuters reported](https://www.reuters.com/business/autos-transportation/tesla-cuts-prices-electric-vehicles-us-market-2023-01-13/) that in Germany, Tesla cut prices on the Model 3 and the Model Y from 1% to around 17%, depending on the configuration. The U.S. The Model 3 is Tesla's entry-level sedan. The Model Y is categorized by some as a sport utility vehicle and others as a crossover.

The US price cuts on the Model 3 and Model Y ranged between 6% and 20% compared with the prices that held before the discount.

[Subscribe](https://economictimes.indiatimes.com/subscription?newslettertype=div_3125&email=2&utm_source=newsletter&utm_medium=email&utm_campaign=DailyTop5)to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. Volkswagen recently raised the price of its entry-level ID.3, putting it on parity with the now-discounted Model 3. In addition, the Tesla move broadened the vehicles in its line-up eligible for the Biden administration tax credit. Tesla cut prices in China and other Asian markets last week. Prices on used Tesla models had also been declining, increasing the pressure on it to adjust new-car sticker prices. [Model Y](/topic/model-y)crossover SUV, ranged between 6% and 20% compared with prices before the discount, according to Reuters calculations.

Tesla has cut prices by up to a fifth across the US and Europe to bolster demand for its electric vehicles in the face of an economic slowdown and fiercer ...

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The National Energy Regulator of South Africa (Nersa) may well have approved a lower, adjusted annual price hike for electricity, but as load shedding ...

Nersa has approved revenue of R334bn for the 2024-’25 year. Eskom applied for a 32% price hike, but after public consultation Nersa received around 2 000 written comments on stakeholders’ concern on the affordability of the proposed increase. According to Nersa, the increase was adjusted after “conducting due regulatory process.”

Once NERSA makes a decision on the restructuring of tariffs (as submitted during August 2020 and 2022), these decisions will ensure Eskom can apply the tariff ...

It is hoped that NERSA has taken the direction given by the Courts in previous judgements on related matters and that these have been correctly addressed. It is evident that both Eskom and NERSA are aligned that every effort needs to be made to improve the energy availability factor at Eskom power stations. The shortage in capacity due to both Eskom performance and the delays in the Independent Power Producers projects needs to be addressed.

Eskom has welcomed the National Energy Regulator of South Africa's (Nersa) approval of an 18.65% electricity tariff increase.

“It is noted that Nersa has reconsidered capital related costs when compared to the previous decision. “Eskom notes the decision by Nersa. The power utility noted that Eskom’s generation performance and delays in adding Independent Power Producer projects to the grid must be addressed. “The revenue determination of R319 billion and R352 billion for the financial years 2024/5 will allow a further migration towards a price level that reflects the efficient cost of producing electricity.” In a statement released on Friday, 13 January 2023, the power utility noted the difficulty of the decision that Nersa had to make and said it recognises the pressures that the decision will place on consumers. On 12 January, Nersa approved revenues of R318 billion for the 2023/4 financial year and R352 billion for the 2024/5 financial year.

Tesla has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after ...

Volkswagen recently raised the price of its entry-level ID.3, putting it at parity with the now-discounted Model 3. In France, customers buying the Model 3 for €44,990 ($48,773) will now get a further price reduction through a government subsidy of €5,000. Before the price cut, the five-seat version of the Model Y had been ineligible for that credit, a designation Musk called “messed up”. In addition, the Tesla move broadened the vehicles in its line-up eligible for the Biden administration tax credit. It also cut prices in Austria, Switzerland and France. Shares are down 65% since the start of 2022.

Small businesses in North West have lamented the impact of the energy crisis on operations and their ability to create jobs.

Now, the current system that we have installed is not getting us through because we are now on stage 6 where we are off for longer periods and our battery power goes off. On top of this, she says the looming price increase is bound to eat away at their bottom line. But this has had little benefit for businesses using generators under higher stages of load shedding. We have a system that was able carry us through the earlier stages of load shedding where we would be off for two hours at a time. [You are invited to the ultimate holiday in paradise](https://www.jacarandafm.com/shows/drive/you-are-invited-ultimate-holiday-paradise/) I get nothing from Eskom.

The wondrous work of both Pfizer/BioNTech and Moderna in bringing the world mRNA Covid-19 vaccines less than a year after the outbreak of the pandemic saved ...

It is amazing that no one seems to put into perspective the cost of the Covid-19 vaccine versus that of the annual influenza (flu) vaccine. Becerra will use the current situation around Covid-19 to drive additional legislation to control the prices of drugs in this country. Why is outrage focused on Covid-19 vaccines when, even at the new higher price, it is comparable to that of the flu? [the government, for the first time, to control the cost of drugs.](https://www.pharmavoice.com/news/ira-Medicare-drug-bill-prices-John-LaMattina-Pfizer/636409/) People like Sec. First of all, over the past two years, Pfizer and Moderna sold the vaccines directly to the government. However, the shift of vaccine payments from the government to the insurance sector has been accompanied by announcements from both Pfizer and Moderna that the LIST PRICE of their respective vaccines will jump significantly - to between $110 - $130. Furthermore, the vaccines companies continue to modify their vaccines in response to new Covid-19 variants. The price that was previously charged by these manufacturers to the government was less than $40. We’ll do everything we can to make sure that we keep the price as low as possible.” “We will do everything we can to make sure that the cost of a Covid vaccine remains affordable… With the government no longer in the Covid-19 business, payment for these vaccines has now been passed on to insurers as happens with all vaccines. However, this funding ran out in December of 2022 as Congress did not renew vaccine funding in the omnibus budget bill that was recently passed.

The price reductions in the United States will make more of the company's electric vehicles eligible for a federal tax credit.

The automaker now shows a high-end Model 3 Performance compact selling in the United States for just under $54,000, down from $63,000, a cut of 14 percent. In recent months, rising borrowing rates made its electric cars more expensive for people taking out loans. 1 under the Inflation Reduction Act.

Energy regulator Nersa's decision to grant power utility Eskom a near 19% price hike for electricity prices in South Africa is going to send shockwaves ...

“The result of unmitigated power outages will be more food shortages and even higher prices,” he said. In fact, Eskom and the government keep repeating the same narrative, alerting the country to a situation that will simply get worse.” Roets said the impact of load-shedding on farming should be a top concern as it is making farming much more expensive. “Farmers have spent literally millions of rand on acquiring generators and solar panels. They also spend millions now on diesel. The situation has been described as unsustainable.

While fluctuating back and forth with fears of global recession and uncertain U.S. economic data, China's economic reopening remains a significant key to ...

Second, while the media loves to actually blame the surge in new cases on the reopening–despite the fact that Western media likewise had harshly criticized Beijing for failing to reopen previously–logic dictates that the reopening itself was not the primary cause of the surge. Yes, we can look at manufacturing (PMI) data for an idea; however, that comes at the end of the month and gives us only what we already know based on demand for the same month. experienced about 1.2 million cases in the first 20 days of December, compared to China’s potential 33 million or possibly even 250 million in the same time period. economic data, China’s economic reopening remains a significant key to demand determinations; yet, no one can get a handle on the severity of the country’s Covid crisis and what it might mean for future demand. With regards to the data issue, oil traders cannot successfully evaluate future demand with any certainty because we have no idea what actual Covid numbers look like. The problem, as we see it, is two-fold: First, there is no accurate data coming from Beijing.

The price cuts will make Tesla more competitive and will also mean the base model of the Model Y, the best-selling electric vehicle in America, ...

That's well below the average price for a new vehicle in the U.S. And Tesla can move much faster to do that than its big rivals. stalwarts (GM and Ford) that Tesla is not going to play nice in the sandbox with an EV price war now underway," Ives wrote in a note. Tesla has cut the prices of its most popular models by up to 20% in the U.S. Analysts are watching to see which automakers respond by cutting prices and chasing market share. There is a caveat on those federal tax credits, though.

The electric car maker is reducing prices by thousands of pounds as global downturn threatens sales.

suggesting that Tesla was "not going to play nice in the sandbox with an EV price war now underway". Paul Hollick, chair, Association of Fleet Professionals welcomed the price cuts, saying it would make electric vehicles more affordable to his members. I can't believe after a few hours from picking up the car I lost £5k". One posted on a Facebook group for Tesla owners: "I just picked up the car yesterday. Model Y vehicles start at £44,990. Go to Tesla and give back the car?

While there's no sign that Tesla owners in the U.S. are going to riot in Tesla stores to protest price cuts like Chinese Tesla buyers, there's still a ...

- $55,000 for a 5-seat Model Y Likely, that’s due to a combination of competition from other EVs, easing supply chain challenges, and improving economies of scale. After years of price increases following pre-launch pricing of under $50,000, Tesla is finally dropping prices. - $55,000 for a Model 3 While there’s no sign that Tesla owners in the U.S. Mostly, those are people who just bought.

A spike in egg prices has squeezed customers. But even with rising costs of its own, the leading US egg supplier has found that it can make even more money ...

There have been no positive tests of the avian flu at any Cal-Maine Foods’ facilities. A supply shock triggered by the deadliest outbreak of a highly pathogenic avian influenza in US history has driven up prices. But even with rising costs of its own, the leading US egg supplier has found that it can make even more money out of every egg. The company produces brands such as Farmhouse Eggs, Sunups, Sunny Meadow, Egg-Land’s Best and Land O’ Lakes eggs. And as supply remains tight and its profits surge, Cal-Maine said it expects the outbreak to continue to affect the overall supply of eggs this year. Avian flu has killed more than 50 million birds in the United States since the start of 2022, according to the Centers for Disease Control and Prevention.

Price of cheapest Model 3 saloon car dropped by £5500 to £42990 to combat slowing demand as carmaker shares drop.

The [distraction of Musk’s takeover of social network Twitter](https://www.theguardian.com/business/nils-pratley-on-finance/2022/dec/19/elon-musk-needs-to-realise-twitter-is-a-hobby-and-tesla-is-his-priority) is also thought to have contributed to the decline in the carmaker’s value. The price of the cheapest Model 3 saloon car, the rear-wheel drive version, dropped by £5,500 to £42,990. The Model 3 dropped to $43,990, a $3,000 reduction. He added that an “EV price war” between manufacturers was now under way. However, investors have started to worry that sales growth will be limited by economic slowdowns in some of its key markets. [is no longer the world’s richest person](https://www.theguardian.com/technology/2022/dec/14/elon-musk-loses-title-of-worlds-richest-person-to-bernard-arnault) and has broken the world record for the [largest loss of personal fortune in history](https://www.theguardian.com/technology/2023/jan/12/elon-musk-breaks-world-record-for-largest-loss-of-personal-fortune-in-history), according to a Guinness World Records report.

Marianne Simmons, a self-professed “Tesla fan girl,” bought her second electric vehicle from the company in September: a white, high-performance Model Y ...

I feel like I got taken advantage of as a consumer,” said Simmons, 32, a web designer in Naples, Florida. “I feel like I got duped. Then the company

At the beginning of the year, AriZona raised the price of drinks in its 20-ounce plastic bottle 25% in the Northeast, its largest market.

Many recent Tesla buyers are angry they payed full price for their cars and that the resale value is now lower.

Bradham, the cloud services developer, said he hopes Tesla will give recent buyers some kind of a break, like free charging. Andrew Checketts, from Santa Barbara, California, said he took delivery of a seven-seater Model Y in early December after Tesla was “hounding” him with text messages promoting a $3,750 discount at the time. The company [raised](https://www.bloomberg.com/news/articles/2022-03-15/tesla-raises-prices-across-lineup-cheapest-model-is-now-46-990) prices by 3% to 5% in March when semiconductor shortages were causing production cuts across the auto industry and automakers and dealers both were getting top dollar on all vehicles. Bradham, 46, said in a phone interview that he ordered the car late last year and said he was told he’d have to wait until January to get it. He said he was excited for the early delivery and agreed to buy the $69,000 EV. Really having a hard time giving Tesla any more of my money and can’t even look at the car this morning,” Checketts said in an email. He said he instead drove a Prius today. Austin Flack, a television producer in Los Angeles, said he listed his 2018 Model 3 with the Full Self-Driving Beta software package for around $51,000 in December, but slashed that price to $36,000 as Tesla unloaded incentives near the end of the year. For existing customers, the resale value of the cars they own will take a hit along with the drop in prices of new models. [Tesla](https://fortune.com/company/tesla/) fan girl,” bought her second electric vehicle from the company in September: a white, high-performance Model Y ringing in at more than $77,000. Drury said the new-vehicle price cuts will hit used cars immediately and could lower values even further. I feel like a got taken advantage of as a consumer,” said Simmons, 32, a web designer in Naples, Florida.