Food price inflation reaches 45-year high

Image Source: Bloomberg The price of essential foods like milk, cheese, and eggs is going up at the fastest rate in 45 years. The year-over-year rise in food prices hit 16.2% in October, up from 14.5% in September. Since 1981, the cost of energy and fuel has also gone up a lot, which has increased […]

G7 dodged imposing a price cap on Russian oil

Image Source: Indian Express The G7 leaders appeared to avoid capping the price of Russian oil in the coming weeks, depriving Russia of its primary source of revenue to support its conflict in Ukraine. A cap has already been announced by the heads of the major western countries, most recently at a meeting of the […]

Petrol price rise warning after OPEC oil output cut

Image Source: Forbes In a move anticipated to push prices globally, some major oil-producing nations have decided to reduce the quantity of oil they export. Saudi Arabia and Russia are part of the Opec+ group, which said that it would reduce output by two million barrels per day. The organization claimed it wished to stabilize […]

Walmart issues profit warning as price rises hit

Image Source: Baking Business Walmart, a major US retailer, has issued a profit warning for the second time since May as rising food and fuel prices have a negative impact on consumer spending. The business reports that it now anticipates a 13 percent decline in profits for this year. According to a specialist, Walmart’s unexpected […]

Amazon Prime subscription price raised by £1 a month

Image Source: News24 Due to rising operating expenses, Amazon prime will increase the price of its Prime program for UK users. Beginning in September, annual membership will cost £95 instead of £79, and monthly memberships will increase from £1 to £8.99. Amazon claimed that the price increase—its first in the UK since 2014—was partially a […]