Global coffee prices are projected to surge by up to 25% in 2025, driven by significant disruptions in the supply chain. Brazil and Vietnam, the world’s top coffee producers, are grappling with severe weather conditions impacting their harvests. Watch in for more details!

Global Coffee Consumers Brace For 25% Price Hike Next Year

The milk prices increased by more than a fifth in Pakistan after the government introduced a new tax which made the dairy staple costlier than it is in Australia, France and other developed countries.

In the supermarkets of Karachi, Ultra-high temperature or UHT milk is being sold for Rs 370 ($1.33) per litre.&nbsp;

As per the data collected by Bloomberg, the milk costs $1.29 in Amsterdam, $1.23 in Paris, and $1.08 in Melbourne.

In the taxation changes introduced by the government last week as part of the national budget, the milk tax was introduced which is 18 per cent on packaged milk.&nbsp;

Earlier, it was exempted from any tax. Before the tax was imposed, which resulted in an increase in retail prices by 25 per cent, the cost of milk was similar to the prices in other countries like&nbsp;Nigeria and Vietnam, said Muhammad Nasir, who is a spokesman for the local unit of Dutch dairy producer Royal FrieslandCampina NV.

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/if-left-unchecked-jaishankar-takes-veiled-dig-at-pak-china-at-sco-summit-737849">'If left unchecked..': Jaishankar takes veiled dig at Pak, China at SCO summit</a>

The costlier price of milk will only increase the inflation that the South Asian country is battling amid a deepening economic crisis that has led to stagnation in wages and erosion of spending power.

Child health is also likely to decline because of the increase in milk prices as 40 per cent of the country has been living in poverty.

“It will deny nutrition from a population that is already suffering from malnutrition,” said Nasir, in a text message to Bloomberg.&nbsp;

Nearly 60 per cent of Pakistani children, who are under five&nbsp;years of age, are anaemic and nearly 40 per cent of them are suffering from stunted growth.

<h2>Pakistanis express displeasure of surge in milk price on social media</h2>

Taking to social media platforms, the Pakistanis expressed displeasure over the price hike of milk.&nbsp;

“Bone-breaking inflation is on its peak! Milk prices in Pakistan have surged by more than 20% following the imposition of a new tax, making the dairy staple more expensive in Karachi than in Paris, Melbourne, and Amsterdam,” one of the users wrote on X.

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Bone breaking inflation is on its peak! 
 
Milk prices in Pakistan have surged by more than 20% following the imposition of a new tax, making the dairy staple more expensive in Karachi than in Paris, Melbourne, and Amsterdam. <a href="https://t.co/EApfF1iB7C">pic.twitter.com/EApfF1iB7C</a>
— Qazi Asif (@QMAAsif) <a href="https://twitter.com/QMAAsif/status/1808829866705350990?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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“Milk prices in Pakistan surged by more than a fifth after a new tax was applied, making the dairy staple more expensive than in France, Australia and some other developed nations. Great going,” said another user.

Watch:&nbsp;7 killed, 18 injured in bus accident in Pakistan's Karachi

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The taxes were raised by the Pakistan government by 40 per cent, which was the highest on record. The increase was part of the national budget introduced last week which was aimed at meeting conditions proposed by the International Monetary Fund for getting a new bailout.

(With inputs from agencies)

The milk prices increased by more than a fifth in Pakistan after the government introduced a new tax which made the dairy staple costlier than it is in Australia, France and other developed countries.

The milk prices increased by more than a fifth in Pakistan after the government introduced a new tax which made the dairy staple costlier than it is in Australia, France and other developed countries. In the supermarkets of Karachi, Ultra-high temperature or UHT milk is being sold for Rs 370 ($1.33) per litre. As per the data collected by Bloomberg, the milk costs $1.29 in Amsterdam, $1.23 in Paris, and $1.08 in Melbourne. In the taxation changes introduced by the government last week as part of the national budget, the milk tax was introduced which is 18 per cent on packaged milk. Earlier, it was exempted from any tax. Before the tax was imposed, which resulted in an increase in retail prices by 25 per cent, the cost of milk was similar to the prices in other countries like Nigeria and Vietnam, said Muhammad Nasir, who is a spokesman for the local unit of Dutch dairy producer Royal FrieslandCampina NV. Also Read: 'If left unchecked..': Jaishankar takes veiled dig at Pak, China at SCO summit The costlier price of milk will only increase the inflation that the South Asian country is battling amid a deepening economic crisis that has led to stagnation in wages and erosion of spending power. Child health is also likely to decline because of the increase in milk prices as 40 per cent of the country has been living in poverty. “It will deny nutrition from a population that is already suffering from malnutrition,” said Nasir, in a text message to Bloomberg. Nearly 60 per cent of Pakistani children, who are under five years of age, are anaemic and nearly 40 per cent of them are suffering from stunted growth. Pakistanis express displeasure of surge in milk price on social media Taking to social media platforms, the Pakistanis expressed displeasure over the price hike of milk. “Bone-breaking inflation is on its peak! Milk prices in Pakistan have surged by more than 20% following the imposition of a new tax, making the dairy staple more expensive in Karachi than in Paris, Melbourne, and Amsterdam,” one of the users wrote on X. Bone breaking inflation is on its peak! Milk prices in Pakistan have surged by more than 20% following the imposition of a new tax, making the dairy staple more expensive in Karachi than in Paris, Melbourne, and Amsterdam. pic.twitter.com/EApfF1iB7C — Qazi Asif (@QMAAsif) July 4, 2024 × “Milk prices in Pakistan surged by more than a fifth after a new tax was applied, making the dairy staple more expensive than in France, Australia and some other developed nations. Great going,” said another user. Watch: 7 killed, 18 injured in bus accident in Pakistan's Karachi The taxes were raised by the Pakistan government by 40 per cent, which was the highest on record. The increase was part of the national budget introduced last week which was aimed at meeting conditions proposed by the International Monetary Fund for getting a new bailout. (With inputs from agencies)

Costlier in Karachi than in Europe! Pakistan introduces milk tax, pushes price to a record high

US Corn and Soybean futures spiked to their highest levels in 2024. The culprit? Climate change. But what impact will the price rises have on the consumer? That's what this report decodes.

Food commodity prices spike, why now?

Gold prices have risen after softer-than-expected US Producer prices data boost hopes for US Rate cuts this year. Persistent geopolitical concerns in west Asia and the rush among central banks to buy gold have added to the metal's shine.

Gold prices rise after softer US Producer prices data, boost hopes for US Rate cuts

Nine lemons, which were considered sacred after being kept on the deity's spear at a temple in south Indian state of&nbsp;Tamil Nadu were auctioned at Rs 236,000 (approx. $28,309) by the authorities on Tuesday (Mar 26).&nbsp;

The lemons were sold at such a hefty price because the devotees believed that consuming them would bring prosperity to the families and cure infertility.&nbsp;

Devotees of the temple in Villupuram believe that consuming lemonade made from these lemons cures infertility and brings prosperity to families.

"The temple is famous for its sacred lemons. People strongly believe that the lemons spiked in Lord Muruga's spear have magical powers," a villager was quoted as saying by The Times Of India.

Also Read:&nbsp;<a href="https://www.wionews.com/trending/285-year-old-lemon-discovered-in-dead-mans-cabinet-goes-viral-heres-how-it-looks-686283">285-year-old lemon discovered in dead man's cabinet goes viral. Here's how it looks</a>

<h2>Childless couples, traders purchase lemons</h2>

During the annual Panguni Uthiram festival, childless couples flock to Lord Muruga's small temple, which is situated at the confluence of two hillocks at Tiruvanainallur village, Villupuram.&nbsp;

The temple's management during this festival auctions the sacred lemons at whopping prices, as reported by The Times Of India.&nbsp;

During the nine-day festival, the lemons - which are spiked on the spear on the first day and considered to be the "most auspicious and powerful" of all - are sold to the devotees at an exorbitant price. This year, the lemon was purchased by a couple for Rs50,500 ($599).&nbsp;

As per the report, one lemon is spiked on the spear of the deity each day by the priests for nine days.&nbsp;

One lemon is spiked on the deity's spear by priests on each day of the nine-day temple festival, the report said.

Watch:&nbsp;Archaeologists try to unearth ‘India’s oldest temple’ in Madhya Pradesh

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/archaeologists-try-to-unearth-indias-oldest-temple-in-madhya-pradesh-702638/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"Childless couples buy the lemons as there is a strong belief that the lemon cures infertility. Traders and businessmen buy the lemon seeking prosperity in their business ventures," another villager said while speaking to The Times Of India.

As per the villagers, not just childless couples but even traders and businessmen try to buy these lemons which are believed to attract good fortune.&nbsp;

People, who are successful in bidding for these lemons, have to take a holy bath and are handed over the lemons after they kneel before the temple priests. For years, the temple has been celebrating this festival.

The festival, which is steeped in faith and tradition, continues to remain as a major cultural event which ensures that age-old customs and beliefs are still alive among the people.

(With inputs from agencies)

Nine lemons, which were considered sacred after being kept on the deity's spear at a temple in south Indian state of Tamil Nadu were auctioned at Rs 236,000 (approx.

Nine lemons, which were considered sacred after being kept on the deity's spear at a temple in south Indian state of Tamil Nadu were auctioned at Rs 236,000 (approx. $28,309) by the authorities on Tuesday (Mar 26). The lemons were sold at such a hefty price because the devotees believed that consuming them would bring prosperity to the families and cure infertility. Devotees of the temple in Villupuram believe that consuming lemonade made from these lemons cures infertility and brings prosperity to families. "The temple is famous for its sacred lemons. People strongly believe that the lemons spiked in Lord Muruga's spear have magical powers," a villager was quoted as saying by The Times Of India. Also Read: 285-year-old lemon discovered in dead man's cabinet goes viral. Here's how it looks Childless couples, traders purchase lemons During the annual Panguni Uthiram festival, childless couples flock to Lord Muruga's small temple, which is situated at the confluence of two hillocks at Tiruvanainallur village, Villupuram. The temple's management during this festival auctions the sacred lemons at whopping prices, as reported by The Times Of India. During the nine-day festival, the lemons - which are spiked on the spear on the first day and considered to be the "most auspicious and powerful" of all - are sold to the devotees at an exorbitant price. This year, the lemon was purchased by a couple for Rs50,500 ($599). As per the report, one lemon is spiked on the spear of the deity each day by the priests for nine days. One lemon is spiked on the deity's spear by priests on each day of the nine-day temple festival, the report said. Watch: Archaeologists try to unearth ‘India’s oldest temple’ in Madhya Pradesh "Childless couples buy the lemons as there is a strong belief that the lemon cures infertility. Traders and businessmen buy the lemon seeking prosperity in their business ventures," another villager said while speaking to The Times Of India. As per the villagers, not just childless couples but even traders and businessmen try to buy these lemons which are believed to attract good fortune. People, who are successful in bidding for these lemons, have to take a holy bath and are handed over the lemons after they kneel before the temple priests. For years, the temple has been celebrating this festival. The festival, which is steeped in faith and tradition, continues to remain as a major cultural event which ensures that age-old customs and beliefs are still alive among the people. (With inputs from agencies)

Sacred nine lemons, believed to cure infertility, sell at hefty prices in Indian temple

India's oil demand is all set to get a Venezuelan boost. Analysts say that state-owned refiners are set to buy discounted oil from the South American country. Private refiners, analysts suggest, have already bought large amounts of Venezuelan crude after sanctions were lifted last year.

Analysts: State-owned refiners set to buy at discounted prices

Indian state refiners set to join forces to bolster Venezuelan crude buying

IPL Auction 2024 - 2 Crore Base Price: The Indian Premier League (IPL) 2024 mini-auction will happen on December 19 in Dubai. It will be the first time an IPL auction will happen outside India.

IPL Auction 2024 - 2 Crore Base Price: The Indian Premier League (IPL) 2024 mini-auction will happen on December 19 in Dubai. It will be the first time an IPL auction will happen outside India. BCCI and IPL have not yet released the list of registered players and their base price. However, according to some reports, 1,166 players have registered for the IPL 2024 mini-auction. Among these 1,166 players, there are 830 Indian and 336 overseas players, reported Cricbuzz. Furthermore, the IPL auction will feature 212 capped players, 909 uncapped, and 45 associate players. The ten franchises of the Indian Premier League 2024 have to fill 77 slots, including 30 foreign players. IPL 2024 Auction: Full List of Players with Base Price Rs 2 Crore In the upcoming auction, 18 players with a capped status will participate. Out of these, four Indian players have set their maximum base price at Rs 2 crore. However, the list of players with a maximum base price of Rs 2 crore is dominated by Australia's World Cup-winning stars. According to ESPNCricinfo, the list includes Sean Abbott, Pat Cummins, Josh Hazlewood, Travis Head, Josh Inglis, Mitchell Starc, and Steve Smith. Here's the list of players who have opted for a maximum base price of Rs 2 crore: Harshal Patel Shardul Thakur Umesh Yadav Kedar Jadhav Mujeeb Ur Rahman Mustafizur Rahman Angelo Mathews Tom Banton Harry Brook Ben Duckett Jamie Overton Adil Rashid David Willey Chris Woakes Sean Abbott Pat Cummins Josh Hazlewood Travis Head Josh Inglis Mitchell Starc Steve Smith Lockie Ferguson Gerald Coetzee Rilee Rossouw Rassie van der Dussen IPL 2024: List of Retained Players by Different Teams Chennai Super Kings: Ajay Mandal, Ajinkya Rahane, Deepak Chahar, Devon Conway, Maheesh Theekshana, Matheesha Pathirana, Mitchell Santner, Moeen Ali, MS Dhoni, Mukesh Choudhary, Nishant Sindhu, Prashant Solanki, Rajvardhan Hangargekar, Ravindra Jadeja, Ruturaj Gaikwad, Shaik Rasheed, Shivam Dube, Simarjeet Singh, Tushar Deshpande Delhi Capitals: Abhishek Porel, Anrich Nortje, Axar Patel, David Warner, Ishant Sharma, Kuldeep Yadav, Lalit Yadav, Lungisani Ngidi, Mitchell Marsh, Mukesh Kumar, Pravin Dubey, Prithvi Shaw, Rishabh Pant, Syed Khaleel Ahmed, Vicky Ostwal, Yash Dhul Gujarat Titans: Shubman Gill (c), David Miller, Matthew Wade, Wriddhiman Saha, Kane Williamson, Abhinav Manohar, B. Sai Sudharsan, Darshan Nalkande, Vijay Shankar, Jayant Yadav, Rahul Tewatia, Mohammed Shami, Noor Ahmad, R. Sai Kishore, Rashid Khan, Joshua Little, Mohit Sharma. Kolkata Knight Riders: Andre Russell, Anukul Roy, Harshit Rana, Jason Roy, Nitish Rana, Rahmanullah Gurbaz, Rinku Singh, Shreyas Iyer, Sunil Narine, Suyash Sharma, Vaibhav Arora, Varun Chakaravarthy, Venkatesh Iyer Lucknow Super Giants: Amit Mishra, Ayush Badoni, Deepak Hooda, Devdutt Padikkal (T), K. Gowtham, KL Rahul, Krunal Pandya, Kyle Mayers, Marcus Stoinis, Mark Wood, Mayank Yadav, Mohsin Khan, Naveen Ul Haq, Nicholas Pooran, Prerak Mankad, Quinton De Kock, Ravi Bishnoi, Yash Thakur, Yudhvir Charak Mumbai Indians: Rohit Sharma, Dewald Brevis, Suryakumar Yadav, Ishan Kishan, N. Tilak Verma, Tim David, Vishnu Vinod, Arjun Tendulkar, Hardik Pandya (Traded), Shams Mulani, Nehal Wadhera, Jasprit Bumrah, Kumar Kartikeya, Piyush Chawla, Akash Madhwal, Jason Behrendorff, Romario Shepherd. Punjab Kings: Arshdeep Singh, Atharva Taide, Harpreet Brar, Harpreet Bhatia, Jitesh Sharma, Jonny Bairstow, Kagiso Rabada, Liam Livingstone, Nathan Ellis, Prabhsimran Singh, Rahul Chahar, Rishi Dhawan, Sam Curran, Shikhar Dhawan, Shivam Singh, Sikandar Raza, Vidwath Kaverappa Rajasthan Royals: Adam Zampa, Avesh Khan (T), Dhruv Jurel, Donovan Ferreira, Jos Buttler, Kuldeep Sen, Kunal Rathore, Navdeep Saini, Prasidh Krishna, R. Ashwin, Riyan Parag, Sandeep Sharma, Sanju Samson, Shimron Hetmyer, Trent Boult, Yashaswi Jaiswal, Yuzvendra Chahal Royal Challengers Bangalore: Akash Deep, Anuj Rawat, Dinesh Karthik, Faf Du Plessis, Glenn Maxwell, Himanshu Sharma, Karn Sharma, Mahipal Lomror, Manoj Bhandage, Mayank Dagar (T), Mohammed Siraj, Rajan Kumar, Rajat Patidar, Reece Topley, Suyash Prabhudessai, Virat Kohli, Vyshak Vijay Kumar, Will Jacks Sunrisers Hyderabad: Abdul Samad, Abhishek Sharma, Aiden Markram, Anmolpreet Singh, Bhuvneshwar Kumar, Fazalhaq Farooqi, Glenn Phillips, Heinrich Klaasen, Marco Jansen, Mayank Agarwal, Mayank Markande, Nitish Kumar Reddy, Rahul Tripathi, Sanvir Singh, Shahbaz Ahamad (T), T. Natarajan, Umran Malik, Upendra Singh Yadav, Washington Sundar (With inputs from agencies)

IPL 2024 Auction: Check list of players with Rs 2 crore base price, retained players & all you need to know

A $4 cheque from 1976 written by Apple co-founder Steve Jobs to Radio Shack sold for over $36,000 at the Boston-based RR Auction on Wednesday. The cheque joined the hot market for Steve Jobs' signature, who drew the cheque against the Apple Computer Company account at a Wells Fargo Bank in Los Altos, California.

A $4 cheque from 1976 written by Apple co-founder Steve Jobs to Radio Shack sold for over $36,000 at the Boston-based RR Auction on Wednesday. The cheque joined the hot market for Steve Jobs' signature, who drew the cheque against the Apple Computer Company account at a Wells Fargo Bank in Los Altos, California. However, it is not the first time a Steve Jobs-signed item sold for such a high price. In 2022, a $9.18 Apple Computer cheque signed by Steve Jobs in 1976 sold for $55,000, and another cheque of $13.36 from the same year to Elmar sold for $37,654 in March 2023. In 2018, Steve Jobs' signature on a job application for "electronics tech or designer engineer" from 1973 sold for $174,757. The auctioneer classified it as the Apple co-founder's earliest known signature. ALSO READ | Gemini AI boosts Alphabet's stock as Google seeks to regain AI leadership from Microsoft In December 2011, Sotheby's sold the signature that appeared on the original Apple founding contract signed by Steve Jobs, Steve Wozniak, and Ronal Wayne in 1976, when Jobs was 21. They auctioned it for $1,594,500. On Wednesday, the RR Auction sold the $4 cheque to Radio Shack for $36,850. RR Auction said, "The biggest tech innovations of the 20th century are all, in varying degrees, indebted to the Boston-based electronics store". They described the item on sale as "a superb cheque signed by the innovative persona." Not only Steve Jobs' signatures but also his business cards have high value. In May 2015, a high school charity auction in California auctioned his three business cards from three companies for $10,050. ALSO READ | Trial of groundbreaking HIV vaccine halted in Africa Furthermore, it's not just Jobs whose signatures have increased in value. In a Julien's Auction in New York last year, Steve Jobs' old pair of brown suede Birkenstock sandals, which he wore during the early days of Apple, sold for $218,750. It was the highest price ever paid for a pair of sandals at an auction. Apple's first official address at 770 Welch Rd, Ste 154, Palo Alto, will be next on the auction list. The auction house said it was "the location of an answering service and mail drop they used while operating out of the famous Jobs family garage." A private collector has had the artefact in his collection since the 1990s, according to an auction house, Mercury News reported. (With inputs from agencies)

A $4 cheque signed by Steve Jobs in 1976 fetches more than $36,000 at auction

Global oil markets are on the edge as reports emerge of potential sanctions easing on Venezuela. With oil broadly undettered despite geopolitical tensions, investors stay cautious of looming supply shocks.

Global oil price volatility in the spotlight

Apple will launch at least six new products in its event, Wonderlust, on September 12, including the much-awaited iPhone 15. It will also announce the release dates for iOS 17, iPadOS 17, watchOS 10, and tvOS 17.

Apple will launch at least six new products in its event, Wonderlust, on September 12, including the much-awaited iPhone 15. It will also announce the release dates for iOS 17, iPadOS 17, watchOS 10, and tvOS 17. The tech giant, in June, introduced these devices during the 2023 Apple Worldwide Developers Conference. However, the prime focus of Apple's September event is iPhone 15. Here's everything you need to know about the new devices Apple will launch on September 12. How many iPhones will Apple launch? Apple will launch four new iPhones: iPhone 15, iPhone 15 Plus, iPhone Pro, and iPhone 15 Pro Max. Some reports suggest that Apple will name the top model of the latest iPhone as iPhone Ultra. However, other reports suggest that Apple will continue with the old 'Pro Max' nomenclature. As usual, iPhone 15 and iPhone 15 Plus would be the base models. ALSO READ | iPhone 15 Launch: Check date, time, expected new features and price of Apple's new device iPhone 15 series: Expected features and colours iPhone 15 models will feature a Titanium frame, big screen and camera upgrade, introduced to the iPhone series last year, the Times of India reported. Apple will reportedly stick to the 'different processors' strategy, meaning iPhone 15 and iPhone 15 Plus will have A16 bionic processors, and the higher models will have the latest-generation A17 processor. However, the biggest difference in 2023 would be the introduction of USB-C connectivity. Apple will introduce the iPhone 15 series in four colours: Black, White, Yellow and Blue, according to reports. However, some analysts say the tech company might experiment with Orange or Coral Pink. Will Apple launch new watches and Airpods in the 2023 event? Apple will launch two new watches, the Apple Watch Series 9 and Apple Watch Ultra 2. The former would be available in the regular 41-millimetre and 45-millimetre sizes. For Apple Watch Ultra 2, Apple will stick to the 49 mm size. Reports suggest Apple won't change the design of its new watches but might introduce new materials and colours. Although Apple users are waiting for the Apple Watch SE 2 launch, Apple might not launch it. Another highly-anticipated product in line is the AirPods Pro. Apple might launch AirPods Pro with a USB type C charging port. However, the earphones are unlikely to get new features. They might get a software update, which improves their device switching and the ability to mute and unmute the AirPods themselves. According to some analysts, Apple might introduce a new feature called Conservation Awareness that mutes the media when people begin to speak to the user. (With inputs from agencies)

Apple Wonderlust Event: iPhone 15, Apple Watch Series 9, AirPods & more

In a move that will add more pressure to India's import bill, Russia has stopped supplying fertilisers such as di-ammonium phosphate (dap) at discounted prices. Instead, a Reuters report says that Russia is now supplying fertilisers at market prices.

Russia ends discounts on fertilisers

Apple launches the iPhone 15, equipped with a universal USB-C charger instead of the company's usual Lightning port, after the EU ordered manufacturers to adopt a common connection.

Is the iPhone 15 worth price tag?

North Korea is likely to face consequences for providing weapons to Russia in its war against Ukraine, warned a top White House official on Tuesday, amid reports of Russian President Vladimir Putin and North Korean leader Kim Jong Un holding weapon talks. 
 
"They will pay a price for this in the international community," said US President Joe Biden's National Security Advisor Jake Sullivan, while speaking to the reporters. 
 
As per reports, sanctions-hit Russia has been hoping to get more military supplies from its ally to strengthen its forces as a highly scrutinised counteroffensive was pushed by Kyiv to take back its territory.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/kim-jong-un-to-visit-russia-and-discuss-weapons-with-putin-this-month-report-632396">North Korea's Kim Jong Un to visit Putin in Russia for discussion on weapons supply</a>

Sullivan stated that Moscow and Pyongyang were eyeing "leader-level discussions, perhaps even in person" on the arms needs of Russia. He added that weapons can be taken from North Korea and used by Russia to attack food supplies and heating infrastructure as&nbsp;winter approaches to "try to conquer territory that belongs to another sovereign nation". 
 
"This is not going to reflect well on North Korea and they will pay a price for this in the international community," he stated. Sullivan said that it "says a lot that Russia is having to turn to a country like North Korea."

<h2>Russian Defence Minister's visit to North Korea</h2>

In July, Russian Defence Minister Sergei Shoigu visited North Korea seeking to acquire additional munitions for the ongoing war, said the White House. 
 
The Kremlin on Tuesday said that it has not been able to confirm a summit between Kim and Putin. "We have nothing to say on this," said Kremlin spokesman Dmitry Peskov.

WATCH |&nbsp;Russia behind North Korea's ICBM programme? | WION Fineprint

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Shoigu on Monday said that Russia has been considering holding joint military drills with North Korea. "Why not? They are our neighbours," he said, as quoted by the TASS news agency. 
 
Last week, the United States warned that Russia has been engaged in secret talks with North Korea to acquire a range of munitions and supplies for the war effort of Moscow. 
 
Kim is likely to board an armoured train from Pyongyang to Vladivostok on the Pacific Coast of Russia, where he is set to meet Putin, said the New York Times. 
 
The two leaders will be present on the campus of Far Eastern Federal University in Vladivostok to attend the Eastern Economic Forum, which is scheduled to run from September 10 to 13, as per the officials. 
 
Kim is also likely to visit Pier 33, where naval ships from the Pacific fleet of Russia dock, officials stated. The anniversary of its founding is celebrated by North Korea on September 9.

(With inputs from agencies)

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North Korea is likely to face consequences for providing weapons to Russia in its war against Ukraine, warned a top White House official on Tuesday, amid reports of Russian President Vladimir Putin and North Korean leader Kim Jong Un holding weapon talks.

North Korea is likely to face consequences for providing weapons to Russia in its war against Ukraine, warned a top White House official on Tuesday, amid reports of Russian President Vladimir Putin and North Korean leader Kim Jong Un holding weapon talks. "They will pay a price for this in the international community," said US President Joe Biden's National Security Advisor Jake Sullivan, while speaking to the reporters. As per reports, sanctions-hit Russia has been hoping to get more military supplies from its ally to strengthen its forces as a highly scrutinised counteroffensive was pushed by Kyiv to take back its territory. ALSO READ | North Korea's Kim Jong Un to visit Putin in Russia for discussion on weapons supply Sullivan stated that Moscow and Pyongyang were eyeing "leader-level discussions, perhaps even in person" on the arms needs of Russia. He added that weapons can be taken from North Korea and used by Russia to attack food supplies and heating infrastructure as winter approaches to "try to conquer territory that belongs to another sovereign nation". "This is not going to reflect well on North Korea and they will pay a price for this in the international community," he stated. Sullivan said that it "says a lot that Russia is having to turn to a country like North Korea." Russian Defence Minister's visit to North Korea In July, Russian Defence Minister Sergei Shoigu visited North Korea seeking to acquire additional munitions for the ongoing war, said the White House. The Kremlin on Tuesday said that it has not been able to confirm a summit between Kim and Putin. "We have nothing to say on this," said Kremlin spokesman Dmitry Peskov. WATCH | Russia behind North Korea's ICBM programme? | WION Fineprint Shoigu on Monday said that Russia has been considering holding joint military drills with North Korea. "Why not? They are our neighbours," he said, as quoted by the TASS news agency. Last week, the United States warned that Russia has been engaged in secret talks with North Korea to acquire a range of munitions and supplies for the war effort of Moscow. Kim is likely to board an armoured train from Pyongyang to Vladivostok on the Pacific Coast of Russia, where he is set to meet Putin, said the New York Times. The two leaders will be present on the campus of Far Eastern Federal University in Vladivostok to attend the Eastern Economic Forum, which is scheduled to run from September 10 to 13, as per the officials. Kim is also likely to visit Pier 33, where naval ships from the Pacific fleet of Russia dock, officials stated. The anniversary of its founding is celebrated by North Korea on September 9. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

North Korea will pay 'price' for supplying arms to Russia: US

House prices in the United Kingdom plunged at the fastest rate in 12 years in January. According to the official numbers released by the Office for National Statistics, higher mortgage prices stressed the housing markets more. However, the authorities have not taken the pandemic years into account.&nbsp;

According to the Land Registry, prices fell 0.6 per cent from December. Furthermore, the following 0.4 per cent plunge in December was the steepest monthly drop since 2011, excluding the pandemic years. There was a 6.3 per cent decline in the price growth. It is low compared to the 9.1 per cent annual rise in December 2022. However, recent figures from mortgage lender Halifax show price recovery.&nbsp;

The Bank of England cut rates to 0.1 per cent in early 2020, the onset of the COVID-19 pandemic, due to which Britain's housing market took off. The administration provided households with tax breaks on property purchases. The annual house-price inflation was the highest at 14.5 per cent in July 2022.

ALSO READ |&nbsp;<a href="www.wionews.com/world/attempt-to-arrest-putin-will-be-declaration-of-war-says-former-russian-president-574988">Attempt to arrest Putin will be a declaration of war, says former Russian president</a>

The property market in England is sluggish as the mortgage costs have doubled to around 4 per cent. In late 2021, the Bank of England raised their rates gradually. According to recent reports, the transactions are decreasing, and annual price growth is condensing.&nbsp;

Furthermore, the market downfall has struck private renters with higher prices. The property market in England witnessed the fastest-growing average rent. According to Office for National Statistics, the growth in average rent was 4.7 per cent in the last 12 months to February since the records started in 2016. The Association of Residential Letting Agents stated landlord instructions decreased as tenant demand rose, creating market distress.

WATCH |&nbsp;UK PM Rishi Sunak publishes long-awaited personal tax details

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The ONS mentioned the market saw a recovery in housing affordability for homebuyers in 2022 while conditions for renters were decreasing. In England, the average home rent is 8.3 times the average full-time wage, down from a high of 9.1 times in 2021.

Even though it was the highest annual decline since records began in 1997, only the ratios returned to the long-term trend. According to the ONS, affordability increased due to lower average property prices in England and Wales for the year ending in September 2022 and wage increases of £1,800.

(With inputs from agencies) 
 
&nbsp;

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House prices in the United Kingdom plunged at the fastest rate in 12 years in January. According to the official numbers released by the Office for National Statistics, higher mortgage prices stressed the housing markets more.

House prices in the United Kingdom plunged at the fastest rate in 12 years in January. According to the official numbers released by the Office for National Statistics, higher mortgage prices stressed the housing markets more. However, the authorities have not taken the pandemic years into account. According to the Land Registry, prices fell 0.6 per cent from December. Furthermore, the following 0.4 per cent plunge in December was the steepest monthly drop since 2011, excluding the pandemic years. There was a 6.3 per cent decline in the price growth. It is low compared to the 9.1 per cent annual rise in December 2022. However, recent figures from mortgage lender Halifax show price recovery. The Bank of England cut rates to 0.1 per cent in early 2020, the onset of the COVID-19 pandemic, due to which Britain's housing market took off. The administration provided households with tax breaks on property purchases. The annual house-price inflation was the highest at 14.5 per cent in July 2022. ALSO READ | Attempt to arrest Putin will be a declaration of war, says former Russian president The property market in England is sluggish as the mortgage costs have doubled to around 4 per cent. In late 2021, the Bank of England raised their rates gradually. According to recent reports, the transactions are decreasing, and annual price growth is condensing. Furthermore, the market downfall has struck private renters with higher prices. The property market in England witnessed the fastest-growing average rent. According to Office for National Statistics, the growth in average rent was 4.7 per cent in the last 12 months to February since the records started in 2016. The Association of Residential Letting Agents stated landlord instructions decreased as tenant demand rose, creating market distress. WATCH | UK PM Rishi Sunak publishes long-awaited personal tax details The ONS mentioned the market saw a recovery in housing affordability for homebuyers in 2022 while conditions for renters were decreasing. In England, the average home rent is 8.3 times the average full-time wage, down from a high of 9.1 times in 2021. Even though it was the highest annual decline since records began in 1997, only the ratios returned to the long-term trend. According to the ONS, affordability increased due to lower average property prices in England and Wales for the year ending in September 2022 and wage increases of £1,800. (With inputs from agencies) WATCH WION LIVE HERE

UK house prices plunge fastest in 12 years: Average home rent 8.3 times of average full-time wage

OnePlus 11 5G Launch: OnePlus will soon launch the most awaited flagship, OnePlus 11 5G. The company has officially announced the date of the OnePlus 11 5G launch event. In India, OnePlus 11 5 G's launch date is February 7, 2023. In China, the OnePlus 5G launched on January 4, 2023. The new OnePlus smartphone exhibit the latest features. The OnePlus 11 5G has a matte finish, a circular camera, an alert slider, and many more features. Compared to the previous models, OnePlus has no added feature in its overall look. However, different shades of the OnePlus 11 5G will be available in the market, including black and green variants. Here, we have compiled everything you need to know about the upcoming OnePlus 11 5G launch date, features, specs, and price.&nbsp;

<h2>OnePlus 11 5G Launch Date: Check features</h2>

The official date given by OnePlus for the launch of the OnePlus 11 5G smartphone is February 7, 2023. Before this, the gadget company OnePlus released one of its bestselling models in August 2022.

<h3>Check all the details about the expected features and specs of the OnePlus 11 5G model.</h3>

<ul>
	<li>Bulky design, metallic frame, unique style</li>
	<li>Curved display with punch-hole</li>
	<li>Android 13 (Out of the box)</li>
	<li>Snapdragon 8+ Gen 2 chipset for high performance</li>
	<li>Storage: 16GB LPDDR5X RAM, 512 GB</li>
	<li>High-resolution telephoto camera</li>
	<li>Primary Camera: 50-megapixel SONY IMX890</li>
	<li>48-megapixel IMX581 ultrawide sensor and 32-megapixel IMX709 telephoto sensor</li>
	<li>5,000 mAh battery with 100W fast charging capability</li>
</ul>

<h2>OnePlus 11: Price</h2>

OnePlus will release the official price of the OnePlus 11 5G on February 7, 2023. Thus, the rate of the OnePlus 11 is not out yet. However, experts say OnePlus has priced the upcoming smartphone OnePlus 11 5G, ₹66,999 in India. Meanwhile, Amazon has promised to give away the OnePlus 11 smartphone for free to people who guess the price of the latest model correctly.&nbsp;

<h2>OnePlus 11 OR OnePlus 11R</h2>

OnePlus will reportedly launch at least five products at the launch event today. Among them, two are OnePlus smartphones, OnePlus 11 and OnePlus 11R. Both the models might look similar in design and they also have a similar hardware. However, OnePlus 11R series is cheaper than OnePlus 11. OnePlus 11 has Hasselblad branded cameras which OnePlus 11R doesn't. 
&nbsp;

OnePlus 11 5G Launch: OnePlus will soon launch the most awaited flagship, OnePlus 11 5G. The company has officially announced the date of the OnePlus 11 5G launch event.

OnePlus 11 5G Launch: OnePlus will soon launch the most awaited flagship, OnePlus 11 5G. The company has officially announced the date of the OnePlus 11 5G launch event. In India, OnePlus 11 5 G's launch date is February 7, 2023. In China, the OnePlus 5G launched on January 4, 2023. The new OnePlus smartphone exhibit the latest features. The OnePlus 11 5G has a matte finish, a circular camera, an alert slider, and many more features. Compared to the previous models, OnePlus has no added feature in its overall look. However, different shades of the OnePlus 11 5G will be available in the market, including black and green variants. Here, we have compiled everything you need to know about the upcoming OnePlus 11 5G launch date, features, specs, and price. OnePlus 11 5G Launch Date: Check features The official date given by OnePlus for the launch of the OnePlus 11 5G smartphone is February 7, 2023. Before this, the gadget company OnePlus released one of its bestselling models in August 2022. Check all the details about the expected features and specs of the OnePlus 11 5G model. Bulky design, metallic frame, unique style Curved display with punch-hole Android 13 (Out of the box) Snapdragon 8+ Gen 2 chipset for high performance Storage: 16GB LPDDR5X RAM, 512 GB High-resolution telephoto camera Primary Camera: 50-megapixel SONY IMX890 48-megapixel IMX581 ultrawide sensor and 32-megapixel IMX709 telephoto sensor 5,000 mAh battery with 100W fast charging capability OnePlus 11: Price OnePlus will release the official price of the OnePlus 11 5G on February 7, 2023. Thus, the rate of the OnePlus 11 is not out yet. However, experts say OnePlus has priced the upcoming smartphone OnePlus 11 5G, ₹66,999 in India. Meanwhile, Amazon has promised to give away the OnePlus 11 smartphone for free to people who guess the price of the latest model correctly. OnePlus 11 OR OnePlus 11R OnePlus will reportedly launch at least five products at the launch event today. Among them, two are OnePlus smartphones, OnePlus 11 and OnePlus 11R. Both the models might look similar in design and they also have a similar hardware. However, OnePlus 11R series is cheaper than OnePlus 11. OnePlus 11 has Hasselblad branded cameras which OnePlus 11R doesn't.

OnePlus 11 5G launch date: Pre-order available, expected features, price & color options, All you need to know

The price of Tesla Inc's best-selling vehicle, Model Y, was increased by $1,000 in the United States after the ceiling on the crossover electric vehicles' price which is eligible for tax credits was raised by the government.

The price of the Model Y Long Range was increased to $54,990 and the Model Y Performance was revised to $57,990, with a raise of $1,000 each by Tesla, as per the previous and current prices posted on the company's website.

ALSO READ | <a href="https://www.wionews.com/technology/elon-musk-found-not-guilty-over-2018-tesla-funding-secured-tweet-558705">Elon Musk found not guilty in 2018 Tesla ‘funding secured’ tweet case</a>

This was the second increase in the Model Y Long Range's price in the last two weeks.

The models are still 15% and 17% cheaper, respectively, compared to their earlier prices before they were slashed by Tesla last month to stoke demand and before the company had accounted for the $7,500 tax credit that buyers now can receive.

The Treasury Department, in a reversal, on Friday ruled that crossover cars like the Model Y will become eligible for electric vehicle tax credits as long as their prices are below $80,000.

The ceiling for wagons, cars and sedans is further lower at $55,000.

The decision turned into a win for General Motors, Ford, Tesla as well as other automakers which had appealed to the government to loosen the vehicle definitions in the incentive plan's implementation so that their more lineups are eligible.

WATCH | WION Fineprint | Tesla to recall around 1.1 million cars over window issue

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A buyer of Tesla Model Y, at its previous price, would have been able to only add around $1,000 in extra features, like a tow hitch, before the price is pushed above the level at which one can apply the tax incentive.

The prices were cut by Tesla globally in January responding to the signs of decreasing demand. The prices were deducted for the second time on Friday in South Korea.&nbsp;

(With inputs from agencies)

You can&nbsp;now write for wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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The price of Tesla Inc's best-selling vehicle, Model Y, was increased by $1,000 in the United States after the ceiling on the crossover electric vehicles' price which is eligible for tax credits was raised by the government.

The price of Tesla Inc's best-selling vehicle, Model Y, was increased by $1,000 in the United States after the ceiling on the crossover electric vehicles' price which is eligible for tax credits was raised by the government. The price of the Model Y Long Range was increased to $54,990 and the Model Y Performance was revised to $57,990, with a raise of $1,000 each by Tesla, as per the previous and current prices posted on the company's website. ALSO READ | Elon Musk found not guilty in 2018 Tesla ‘funding secured’ tweet case This was the second increase in the Model Y Long Range's price in the last two weeks. The models are still 15% and 17% cheaper, respectively, compared to their earlier prices before they were slashed by Tesla last month to stoke demand and before the company had accounted for the $7,500 tax credit that buyers now can receive. The Treasury Department, in a reversal, on Friday ruled that crossover cars like the Model Y will become eligible for electric vehicle tax credits as long as their prices are below $80,000. The ceiling for wagons, cars and sedans is further lower at $55,000. The decision turned into a win for General Motors, Ford, Tesla as well as other automakers which had appealed to the government to loosen the vehicle definitions in the incentive plan's implementation so that their more lineups are eligible. WATCH | WION Fineprint | Tesla to recall around 1.1 million cars over window issue A buyer of Tesla Model Y, at its previous price, would have been able to only add around $1,000 in extra features, like a tow hitch, before the price is pushed above the level at which one can apply the tax incentive. The prices were cut by Tesla globally in January responding to the signs of decreasing demand. The prices were deducted for the second time on Friday in South Korea. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Tesla's Model Y price shoots by $1,000 after tax credit terms relaxed in US

The rising cost of eggs in the U.S. is denting household budgets. Americans in recent years have increased the number of eggs they consume while reducing their intake of beef and venison, according to data from the U.S. Department of Agriculture. WION's Susan Tehrani explains.

Why egg prices have soared 60% in a year

The US Federal Trade Commission (FTC) has launched a probe against beverage giants Coca-Cola and PepsiCo over alleged price discrimination in the markets, Politico reported quoting sources.

Both companies are being scrutinised under a 1936 law known as the Robinson-Patman Act, which has not been used for two decades.

Under this law, suppliers are barred from offering better prices to large retailers at the expense of their smaller competitors. The rule seeks to provide a level playing field between small retailers and large chain stores.

The authorities last month asked large retailers like Walmart to provide information on their purchases from the suppliers and the price they charge customers on soft drinks, Politico reported, adding that the retail giant was not the subject of the investigation.

<h2>WION Fineprint | Joshimath: The sinking Indian city</h2>

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Sources told the US media outlet that the probe is in the early stages and hence did not reveal further information due to its confidential nature.

The FTC used to probe companies under the Robinson-Patman Act regularly, but it was abandoned more than 20 years ago.

The most recent case the FTC took up was a settlement with spice company McCormick.

Prior to that in 1988, the regulator went against book publishers including Simon &amp; Schuster and Random House.

The decision to move away from the Robinson-Patman Act came after the FTC and Justice Department started focusing on harm to consumers, namely higher prices, rather than harm to competitors.

The latest action comes as the Biden administration has been looking to rein in big companies with anti-trust charges.

(With inputs from agencies)

The US Federal Trade Commission (FTC) has launched a probe against beverage giants Coca-Cola and PepsiCo over alleged price discrimination in the markets, Politico reported quoting sources.

The US Federal Trade Commission (FTC) has launched a probe against beverage giants Coca-Cola and PepsiCo over alleged price discrimination in the markets, Politico reported quoting sources. Both companies are being scrutinised under a 1936 law known as the Robinson-Patman Act, which has not been used for two decades. Under this law, suppliers are barred from offering better prices to large retailers at the expense of their smaller competitors. The rule seeks to provide a level playing field between small retailers and large chain stores. The authorities last month asked large retailers like Walmart to provide information on their purchases from the suppliers and the price they charge customers on soft drinks, Politico reported, adding that the retail giant was not the subject of the investigation. WION Fineprint | Joshimath: The sinking Indian city Sources told the US media outlet that the probe is in the early stages and hence did not reveal further information due to its confidential nature. The FTC used to probe companies under the Robinson-Patman Act regularly, but it was abandoned more than 20 years ago. The most recent case the FTC took up was a settlement with spice company McCormick. Prior to that in 1988, the regulator went against book publishers including Simon & Schuster and Random House. The decision to move away from the Robinson-Patman Act came after the FTC and Justice Department started focusing on harm to consumers, namely higher prices, rather than harm to competitors. The latest action comes as the Biden administration has been looking to rein in big companies with anti-trust charges. (With inputs from agencies)

Coca-Cola and PepsiCo under FTC radar over price discrimination

Tesla’s Chief Executive Officer Elon Musk sold 22 million shares worth $3.6 billion, as the total valuation of the shares sold by him this year touched $40 billion and the shares of the company touched a two-year low.&nbsp;According to a US securities filing, 22 million shares were unloaded by Musk in the most valuable car-making company in the world in a span of three days between Monday to Wednesday.

This is the second time since stocks in huge number have been sold by Musk after he made the Twitter purchase worth $44 billion in October.&nbsp; &nbsp;

ALSO READ|&nbsp;<a href="https://www.wionews.com/world/elon-musk-no-longer-worlds-richest-man-check-who-is-542818">Elon Musk no longer world's richest man. Check who is</a>

Although, it’s unclear if the sale of shares is related to the acquisition of Twitter, however, the investors are annoyed by the perception that Musk’s focus as well as resources are getting diverted from Tesla to Twitter.

Brokerage IG Markets’ analyst Tony Sycamore said, "It doesn't put a lot of confidence in the business, or speak volumes for where his attention is at.”

"It's not a good situation. I've spoken to a lot of investors who have Tesla shares and they're absolutely furious at Elon,” he added.

This year, the stock price of Tesla has decreased by 50%, as it has continuously underperformed at both broader tech-heavy Nasdaq and automakers.

WATCH|&nbsp;Twitter grounds account tracking Elon Musk's jet; Musk earlier promised the account was safe

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Maybank Securities’ head of prime brokerage Tareck Horchani said, “It will start to be tiring for investors.”

The fortune of Musk, which is mostly related to Tesla shares, has seen a significant decrease in prices this year and has resulted in him losing the tag of the richest person in the world last week to Louis Vuitton boss Bernard Arnault, as per Forbes.

A month before, shares worth $4 billion were sold by Musk days after the Twitter deal was closed. Musk’s supporter and Tesla investor Ross Gerber tweeted that an announcement of buyback should be made by Tesla "to take advantage to (sic) the low share price Elon has created”.&nbsp;

(With inputs from agencies)

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Tesla’s Chief Executive Officer Elon Musk sold 22 million shares worth $3.6 billion, as the total valuation of the shares sold by him this year touched $40 billion and the shares of the company touched a two-year low.

Tesla’s Chief Executive Officer Elon Musk sold 22 million shares worth $3.6 billion, as the total valuation of the shares sold by him this year touched $40 billion and the shares of the company touched a two-year low. According to a US securities filing, 22 million shares were unloaded by Musk in the most valuable car-making company in the world in a span of three days between Monday to Wednesday. This is the second time since stocks in huge number have been sold by Musk after he made the Twitter purchase worth $44 billion in October. ALSO READ| Elon Musk no longer world's richest man. Check who is Although, it’s unclear if the sale of shares is related to the acquisition of Twitter, however, the investors are annoyed by the perception that Musk’s focus as well as resources are getting diverted from Tesla to Twitter. Brokerage IG Markets’ analyst Tony Sycamore said, "It doesn't put a lot of confidence in the business, or speak volumes for where his attention is at.” "It's not a good situation. I've spoken to a lot of investors who have Tesla shares and they're absolutely furious at Elon,” he added. This year, the stock price of Tesla has decreased by 50%, as it has continuously underperformed at both broader tech-heavy Nasdaq and automakers. WATCH| Twitter grounds account tracking Elon Musk's jet; Musk earlier promised the account was safe Maybank Securities’ head of prime brokerage Tareck Horchani said, “It will start to be tiring for investors.” The fortune of Musk, which is mostly related to Tesla shares, has seen a significant decrease in prices this year and has resulted in him losing the tag of the richest person in the world last week to Louis Vuitton boss Bernard Arnault, as per Forbes. A month before, shares worth $4 billion were sold by Musk days after the Twitter deal was closed. Musk’s supporter and Tesla investor Ross Gerber tweeted that an announcement of buyback should be made by Tesla "to take advantage to (sic) the low share price Elon has created”. (With inputs from agencies)

Elon Musk sells Tesla’s 22 million shares worth $3.6 billion in three days

US&nbsp;President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate. Speaking at the White House on Monday, Biden said that while such companies are making money, Americans are paying a bomb to fill up their car tanks.&nbsp;

The remarks came days after US oil goliaths ExxonMobil and Chevron announced record profits, proof of how the industry has benefited from a rise in crude prices following Russia's invasion of Ukraine.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/movement-of-ships-in-black-sea-corridor-is-unacceptable-says-russia-530051">Movement of ships in Black Sea corridor is 'unacceptable', says Russia</a>

The oil industry “has not met its commitment to invest in America and support the American people,” Biden said. They’re not just making a “fair return”, but they’re making “profits so high it is hard to believe,” he added.

“Their profits are a windfall of war,” he said, referring to the conflict&nbsp;ravaging Ukraine. He further said that these companies have a responsibility to act.

“I think it’s outrageous,” he said. Biden said that if they passed those profits on to consumers, gas prices would register a fall of at least 50 cents.

He threatened that if they fail to do so, they should be ready to pay a higher tax and other penalties.

“If they don’t, they’re going to pay a higher tax on their excess profits, and face other restrictions,” he said.&nbsp;“It’s time for these companies to stop war profiteering.”

The White House will work with Congress to look at these options and others.

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&nbsp;

Beyond global events, the oil sector has experienced higher refining margins, partly as a result of plant operational concerns.&nbsp;

Gasoline prices have increased as a result of the wide margins, a sensitive topic for American voters as the midterm elections approach.

(with inputs from agencies)

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US President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate.

US President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate. Speaking at the White House on Monday, Biden said that while such companies are making money, Americans are paying a bomb to fill up their car tanks. The remarks came days after US oil goliaths ExxonMobil and Chevron announced record profits, proof of how the industry has benefited from a rise in crude prices following Russia's invasion of Ukraine. Also Read: Movement of ships in Black Sea corridor is 'unacceptable', says Russia The oil industry “has not met its commitment to invest in America and support the American people,” Biden said. They’re not just making a “fair return”, but they’re making “profits so high it is hard to believe,” he added. “Their profits are a windfall of war,” he said, referring to the conflict ravaging Ukraine. He further said that these companies have a responsibility to act. “I think it’s outrageous,” he said. Biden said that if they passed those profits on to consumers, gas prices would register a fall of at least 50 cents. He threatened that if they fail to do so, they should be ready to pay a higher tax and other penalties. “If they don’t, they’re going to pay a higher tax on their excess profits, and face other restrictions,” he said. “It’s time for these companies to stop war profiteering.” The White House will work with Congress to look at these options and others. × Beyond global events, the oil sector has experienced higher refining margins, partly as a result of plant operational concerns. Gasoline prices have increased as a result of the wide margins, a sensitive topic for American voters as the midterm elections approach. (with inputs from agencies)

Stop war profiteering, or be ready to pay windfall tax, Biden tells oil companies

Protests have continued in Panama for the second week over the price rise. Protesters blocked key routes across Panama as they reject the government's call for negotiations.

Protests continue in Panama for the second week over the price rise

Country's wholesale price inflation WPI has come down for first time in four months, wholesale inflation has marginally declined to 15.18 % in June compared to 15.88% in May.

India's Wholesale Price Inflation for June stays above 1%

Pakistan's Finance Minister Miftah Ismail announced that the federal government has decided to raise the price of petrol by another PKR 24 per litre. This is the the third such raise within the last 20 days.

Pakistan: Govt raises fuel price for third time in 20 days

Manufacturers are quietly cutting container sizes without lowering prices across the board, from toilet paper to yoghurt and coffee to corn chips. It's known as "shrinkflation," and it's happening all around the world.It's the inflation that no one expects to see.&nbsp;

In the United States, a tiny box of Kleenex now contains 60 tissues, down from 65 just a few months ago. Chobani Flips yoghurts have been reduced in size from 5.3 to 4.5 ounces. Nestle reduced the size of its Nescafe Azera Americano coffee tins in the United Kingdom from 100 to 90 grammes. A bar of Vim dish soap in India has shrunk from 155 to 135 grammes.

Experts claim shrinkflation isn't a new phenomenon. However, it becomes more common during periods of high inflation, as businesses struggle to keep up with rising expenses for ingredients, packaging, labour, and transportation.

Als read |&nbsp;<a href="https://www.wionews.com/world/oecd-doubles-2022-inflation-forecast-in-38-nation-group-to-85-486237">OECD doubles 2022 inflation forecast in 38-nation group to 8.5%</a>

Global consumer price inflation was up an estimated 7 per cent in May, a pace that will likely continue through September, according to S &amp; P Global.

Companies might also use techniques to divert attention away from downsizing, such as labelling smaller products with eye-catching new labels.

Fritos did exactly that. Fritos Scoops "Party Size" bags used to be 18 ounces, and some are still available at a Texas grocery store. However, practically every other major retailer is now advertising 15.5-ounce "Party Size" Fritos Scoops, which are more expensive.

Watch |&nbsp;Gravitas: Is there less Coca-Cola in your can?

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When asked about Fritos, PepsiCo did not comment. It did, however, agree that Gatorade bottles are shrinking. The company has lately begun replacing 32-ounce bottles with 28-ounce bottles that are tapered in the middle to make them easier to grip.

Likewise, Kimberly-Clark—which makes both Cottonelle and Kleenex—didn't respond to requests for comment on the reduced package sizes. Proctor &amp; Gamble Co. didn't respond when asked about Pantene Pro-V Curl Perfection conditioner, which has been downsized from 12 fluid ounces to 10.4 fluid ounces but still costs $3.99.

Earth's Best Organic Sunny Day Snack Bars went from eight bars per box to seven, but the price listed at multiple stores remains $3.69. Hain Celestial Group, the brand's owner, didn't respond to an email seeking comment.

Some companies are straightforward about the changes. In Japan, snack maker Calbee Inc. announced 10 percent weight reductions--and 10 percent price increases--for many of its products in May, including veggie chips and crispy edamame. The company blamed a sharp rise in the cost of raw materials.

Also read |&nbsp;<a href="https://www.wionews.com/world/why-japan-prefers-higher-inflation-481910">Why Japan prefers higher inflation</a>

In January, Domino's Pizza announced that its 10-piece chicken wings would be reduced to eight pieces for the same $7.99 carryout price. The high cost of chicken was cited by Domino's.

According to Byas Anand, head of corporate relations for Dabur India, a consumer care and food company, "down-switching" — another word for shrinkflation — is largely done in rural regions, where people are poorer and more price sensitive. Companies simply raise prices in cities.

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Manufacturers are quietly cutting container sizes without lowering prices across the board, from toilet paper to yoghurt and coffee to corn chips. It's known as "shrinkflation," and it's happening all around the world.

Manufacturers are quietly cutting container sizes without lowering prices across the board, from toilet paper to yoghurt and coffee to corn chips. It's known as "shrinkflation," and it's happening all around the world.It's the inflation that no one expects to see. In the United States, a tiny box of Kleenex now contains 60 tissues, down from 65 just a few months ago. Chobani Flips yoghurts have been reduced in size from 5.3 to 4.5 ounces. Nestle reduced the size of its Nescafe Azera Americano coffee tins in the United Kingdom from 100 to 90 grammes. A bar of Vim dish soap in India has shrunk from 155 to 135 grammes. Experts claim shrinkflation isn't a new phenomenon. However, it becomes more common during periods of high inflation, as businesses struggle to keep up with rising expenses for ingredients, packaging, labour, and transportation. Als read | OECD doubles 2022 inflation forecast in 38-nation group to 8.5% Global consumer price inflation was up an estimated 7 per cent in May, a pace that will likely continue through September, according to S & P Global. Companies might also use techniques to divert attention away from downsizing, such as labelling smaller products with eye-catching new labels. Fritos did exactly that. Fritos Scoops "Party Size" bags used to be 18 ounces, and some are still available at a Texas grocery store. However, practically every other major retailer is now advertising 15.5-ounce "Party Size" Fritos Scoops, which are more expensive. Watch | Gravitas: Is there less Coca-Cola in your can? When asked about Fritos, PepsiCo did not comment. It did, however, agree that Gatorade bottles are shrinking. The company has lately begun replacing 32-ounce bottles with 28-ounce bottles that are tapered in the middle to make them easier to grip. Likewise, Kimberly-Clark—which makes both Cottonelle and Kleenex—didn't respond to requests for comment on the reduced package sizes. Proctor & Gamble Co. didn't respond when asked about Pantene Pro-V Curl Perfection conditioner, which has been downsized from 12 fluid ounces to 10.4 fluid ounces but still costs $3.99. Earth's Best Organic Sunny Day Snack Bars went from eight bars per box to seven, but the price listed at multiple stores remains $3.69. Hain Celestial Group, the brand's owner, didn't respond to an email seeking comment. Some companies are straightforward about the changes. In Japan, snack maker Calbee Inc. announced 10 percent weight reductions--and 10 percent price increases--for many of its products in May, including veggie chips and crispy edamame. The company blamed a sharp rise in the cost of raw materials. Also read | Why Japan prefers higher inflation In January, Domino's Pizza announced that its 10-piece chicken wings would be reduced to eight pieces for the same $7.99 carryout price. The high cost of chicken was cited by Domino's. According to Byas Anand, head of corporate relations for Dabur India, a consumer care and food company, "down-switching" — another word for shrinkflation — is largely done in rural regions, where people are poorer and more price sensitive. Companies simply raise prices in cities. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. (With inputs from agencies)

‘Shrinkflation’ is on the rise: Companies reducing package size, without lowering price

Petrol, Diesel prices have gone up in India for the 14th time in 16 days. Petrol is now 10 Rupees dearer than it was on March 21. Authorities say the war in Ukraine is to be blamed. But is there more to the story? Listen in to Palki Sharma Upadhyay.

Gravitas: Petrol, Diesel prices soar in India

Since the Taliban took over Afghanistan, reports of poverty in the nation have been emerging. There have been reports of many Afghans selling possessions to buy food because of the Taliban's inability to pay wages to civil servants. Also, the urban communities are facing food insecurity similar to rural areas.&nbsp;

Residents of Kabul, however, recently complained about the high price of food materials. The residents claimed that even after a drop in dollar’s value against Afghan currency, there has been no reduction in the price of food materials.

Deen Mohammad, a resident of Kabul was quoted by a local media house saying, "The unemployment has increased. Although the dollar dropped the prices are still high."

<a href="https://www.wionews.com/south-asia/afghan-group-rejects-murdering-polio-vaccinators-461914">Also read |&nbsp;Afghan group rejects murdering polio vaccinators</a>

Abdul Haq Omari, the head of the chamber has highlighted how the price of food items have witnessed a rise in the international market after Russia attacked Ukraine. "The price of food materials has increased in the international market since the war in Ukraine began, so its negative impacts hit Afghanistan as well," he said.&nbsp;

The nation is also facing the threat of a “looming humanitarian crisis” in the country. Afghanistan had already been facing chronic poverty and drought but the situation has deteriorated since the Taliban seized power.

In September, the International Monetary Fund (IMF) said that its engagement with Afghanistan will remain suspended until there is clarity on the recognition of the government led by the Taliban.

"We ask all the international charity organisations to not withhold their aid and to help our exhausted nation... so that the problems of the people could be solved," said new Prime Minister Mullah Mohammad Hassan Akhund in his first address to the nation since the Taliban took over.

(With inputs from agencies)

Since the Taliban took over Afghanistan, reports of poverty in the nation have been emerging. There have been reports of many Afghans selling possessions to buy food because of the Taliban's inability to pay wages to civil servants.

Since the Taliban took over Afghanistan, reports of poverty in the nation have been emerging. There have been reports of many Afghans selling possessions to buy food because of the Taliban's inability to pay wages to civil servants. Also, the urban communities are facing food insecurity similar to rural areas. Residents of Kabul, however, recently complained about the high price of food materials. The residents claimed that even after a drop in dollar’s value against Afghan currency, there has been no reduction in the price of food materials. Deen Mohammad, a resident of Kabul was quoted by a local media house saying, "The unemployment has increased. Although the dollar dropped the prices are still high." Also read | Afghan group rejects murdering polio vaccinators Abdul Haq Omari, the head of the chamber has highlighted how the price of food items have witnessed a rise in the international market after Russia attacked Ukraine. "The price of food materials has increased in the international market since the war in Ukraine began, so its negative impacts hit Afghanistan as well," he said. The nation is also facing the threat of a “looming humanitarian crisis” in the country. Afghanistan had already been facing chronic poverty and drought but the situation has deteriorated since the Taliban seized power. In September, the International Monetary Fund (IMF) said that its engagement with Afghanistan will remain suspended until there is clarity on the recognition of the government led by the Taliban. "We ask all the international charity organisations to not withhold their aid and to help our exhausted nation... so that the problems of the people could be solved," said new Prime Minister Mullah Mohammad Hassan Akhund in his first address to the nation since the Taliban took over. (With inputs from agencies)

Amid extreme poverty, Kabul residents complain of high price of food materials

For the first time in decades, consumer prices in the US surged by 6.8 per cent in November, reveals the latest data by the Consumer Price Index data This comes as the highest annual inflation rate since June 1982.&nbsp;

As per the latest data, the surge comes as a result of an increase in component indexes. Some of the large contributors are: gasoline, shelter, food, used cars and trucks.&nbsp;

Inflation has been a matter of concern since the pandemic has hit the globe.

The energy index saw a surge of 3.5 per cent in November as the gasoline index increased by 6.1 per cent. The food index saw an increase of 0.7 per cent as the index for food at home rose 0.8 per cent.

Acknowledging the current scenario, US President Joe Biden said, "Today's numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic, prices are rising."&nbsp;

Deeming inflation as "a real bump in the road," he said that "price and cost increase are slowing, although not as quickly as we'd like."&nbsp;

<a href="https://www.wionews.com/world/on-human-rights-day-us-imposes-sanctions-on-myanmar-china-north-korea-435962">Also read |&nbsp;On Human Rights Day, US imposes sanctions on Myanmar, China, North Korea</a>

The food index increased 0.7 per cent in November after rising 0.9 per cent in both September and October. The food at home index increased 0.8 per cent in November.&nbsp;The indexes for other food at home and fruits and vegetables both increased by 1 per cent in November.

The index for meats, poultry, fish, and eggs rose 0.9 per cent. Within this group, the index for pork surged drastically by &nbsp;2.2 per cent. However, the index for eggs declined in November by 2.7 per cent.&nbsp;

In terms of energy, it rose by 3.5 per cent in November after there was a 4.8 per cent hike in October. The gasoline index rose 6.1 per cent in November. The electricity index increased 0.3 per cent. The index for natural gas also saw a minor surge of 0.6 per cent.

Mickey Levy, chief economist covering the Americas and Asia at Berenberg Capital Markets, highlighted the supply bottlenecks, the Federal Reserve's low-interest-rate policies and pandemic recovery legislation.

<a href="https://www.wionews.com/world/ukraine-russia-tensions-biden-talks-to-germanys-scholz-as-kyiv-leader-looks-for-talks-with-moscow-435971">Also read |&nbsp;Ukraine-Russia tensions: Biden talks to Germany's Scholz as Kyiv leader looks for talks with Moscow</a>

"The Biden administration fears the negative political fallout of the impact of higher inflation on households and is trying to defer the blame on special factors," Levy said

Earlier, in October, Inflation across a variety of products in the US hit its highest point in more than 30 years. The consumer price index rose 6.2 per cent from a year ago. This is the most since December 1990.

(With inputs from agencies)

For the first time in decades, consumer prices in the US surged by 6.8 per cent in November, reveals the latest data by the Consumer Price Index data This comes as the highest annual inflation rate since June 1982.

For the first time in decades, consumer prices in the US surged by 6.8 per cent in November, reveals the latest data by the Consumer Price Index data This comes as the highest annual inflation rate since June 1982. As per the latest data, the surge comes as a result of an increase in component indexes. Some of the large contributors are: gasoline, shelter, food, used cars and trucks. Inflation has been a matter of concern since the pandemic has hit the globe. The energy index saw a surge of 3.5 per cent in November as the gasoline index increased by 6.1 per cent. The food index saw an increase of 0.7 per cent as the index for food at home rose 0.8 per cent. Acknowledging the current scenario, US President Joe Biden said, "Today's numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic, prices are rising." Deeming inflation as "a real bump in the road," he said that "price and cost increase are slowing, although not as quickly as we'd like." Also read | On Human Rights Day, US imposes sanctions on Myanmar, China, North Korea The food index increased 0.7 per cent in November after rising 0.9 per cent in both September and October. The food at home index increased 0.8 per cent in November. The indexes for other food at home and fruits and vegetables both increased by 1 per cent in November. The index for meats, poultry, fish, and eggs rose 0.9 per cent. Within this group, the index for pork surged drastically by 2.2 per cent. However, the index for eggs declined in November by 2.7 per cent. In terms of energy, it rose by 3.5 per cent in November after there was a 4.8 per cent hike in October. The gasoline index rose 6.1 per cent in November. The electricity index increased 0.3 per cent. The index for natural gas also saw a minor surge of 0.6 per cent. Mickey Levy, chief economist covering the Americas and Asia at Berenberg Capital Markets, highlighted the supply bottlenecks, the Federal Reserve's low-interest-rate policies and pandemic recovery legislation. Also read | Ukraine-Russia tensions: Biden talks to Germany's Scholz as Kyiv leader looks for talks with Moscow "The Biden administration fears the negative political fallout of the impact of higher inflation on households and is trying to defer the blame on special factors," Levy said Earlier, in October, Inflation across a variety of products in the US hit its highest point in more than 30 years. The consumer price index rose 6.2 per cent from a year ago. This is the most since December 1990. (With inputs from agencies)

For the first time in 39 years, Inflation surged by 6.8% in the US

US bank JP Morgan, in a new report, has revealed that the oil prices could surge by 66 per cent in 2022, which is US $125 per barrel. Crude oil could cost as much as US $150 per barrel by 2023.

As per Christyan Malek, JP Morgan's head of oil and gas research, the main issue&nbsp;is that the OPEC nations have plenty of oil, however, they don't have the logistics to deliver it quickly.&nbsp;

JP Morgan estimates that OPEC's real spare capacity stands at 2 million barrels per day next year. The American bank said that OPEC's spare capacity equates to 4 per cent of total capacity. This is a decrease from an average of 14 per cent between 1995 and 2020. When this amount gets even lower, oil prices will surge.

<a href="https://www.wionews.com/world/stocks-tumble-oil-prices-slump-amid-concerns-over-new-virus-variant-432211">Also read |&nbsp;Stocks tumble, oil prices slump amid concerns over new virus variant</a>

Oil prices have hit a low in the past few days due to the new Covid variant - Omicron. Investors have been fearing that if a lockdown is imposed, it would reduce travel and therefore lower demand for oil. However, JP Morgan believes that there will be no reduction in travels. "We believe the market may overestimate the impacts of the recent emergence of the Omicron variant of COVID-19 on oil prices during the US holiday period," it said.&nbsp;

On Friday, stock markets and oil prices hit a new low over fears of a new coronavirus variant. "It's Black Friday today for the retailers, but it's 'Red Friday' right now for the stock market," said Patrick O'Hare at Briefing.com.&nbsp;

Justin Tang at United First Partners said that, "The world has gone through this before" with the Delta variant. "Mutations are expected and not something unknown," he said.

(With inputs from agencies)

US bank JP Morgan, in a new report, has revealed that the oil prices could surge by 66 per cent in 2022, which is US $125 per barrel. Crude oil could cost as much as US $150 per barrel by 2023.

US bank JP Morgan, in a new report, has revealed that the oil prices could surge by 66 per cent in 2022, which is US $125 per barrel. Crude oil could cost as much as US $150 per barrel by 2023. As per Christyan Malek, JP Morgan's head of oil and gas research, the main issue is that the OPEC nations have plenty of oil, however, they don't have the logistics to deliver it quickly. JP Morgan estimates that OPEC's real spare capacity stands at 2 million barrels per day next year. The American bank said that OPEC's spare capacity equates to 4 per cent of total capacity. This is a decrease from an average of 14 per cent between 1995 and 2020. When this amount gets even lower, oil prices will surge. Also read | Stocks tumble, oil prices slump amid concerns over new virus variant Oil prices have hit a low in the past few days due to the new Covid variant - Omicron. Investors have been fearing that if a lockdown is imposed, it would reduce travel and therefore lower demand for oil. However, JP Morgan believes that there will be no reduction in travels. "We believe the market may overestimate the impacts of the recent emergence of the Omicron variant of COVID-19 on oil prices during the US holiday period," it said. On Friday, stock markets and oil prices hit a new low over fears of a new coronavirus variant. "It's Black Friday today for the retailers, but it's 'Red Friday' right now for the stock market," said Patrick O'Hare at Briefing.com. Justin Tang at United First Partners said that, "The world has gone through this before" with the Delta variant. "Mutations are expected and not something unknown," he said. (With inputs from agencies)

Oil price could rise to $125 per barrel in 2022, warns US bank JP Morgan

For some time now Beijing has been emphasising the importance of food security. This is because grain prices in China have increased and the relations with some exporting countries are not so good now. 
China is expected to roll out support in order to counter price volatility in both domestic and international markets. The state-run Economic Daily has reported that prices of corn and wheat have soared. However, the price of rice has fallen below the minimum purchase price.&nbsp;

The media further added that the situation could get worse as the prices would continue to increase due to continuous rainfall and unusually cold winter in northern China.

Economic Daily further highlights the importance of strengthening agricultural subsidies and mobilising the enthusiasm of local governments and farmers in China. It urged the country to stay 'vigilant' to rising global grain prices.

Not just the prices of corn and wheat but pork and vegetable prices have also seen a surge, said Even Pay, an agricultural analyst with Trivium China.&nbsp;

<a href="https://www.wionews.com/world/global-food-prices-record-10-year-high-as-wheat-prices-soar-by-40-426984">Also read |&nbsp;Global food prices record 10-year high as wheat prices soar by 40%</a>

The rise in prices can be attributed to a number of factors, including tight supply and demand for animal feed. The increasing costs of agricultural products such as fertilisers have also hiked the price of several grains.

Meanwhile, figures by United Nations Food and Agriculture Organization (FAO), that came out earlier this month revealed that global food prices have hit the highest level in over a decade after rising by more than 30 per cent in the last year.&nbsp;

The FAO Food Price Index surged for the third month in October as there was a 3 per cent increase from the previous month. 
Vegetable oil prices hit a record high after rising by almost 10 per cent in the same month. Oil prices increased because of rises in the cost of palm, soy, sunflower and rapeseed oils.&nbsp;

The price of wheat soared by almost 40 per cent in the last 12 months after major exporters, including Canada, Russia and the US had poor harvests.

For some time now Beijing has been emphasising the importance of food security. This is because grain prices in China have increased and the relations with some exporting countries are not so good now.

For some time now Beijing has been emphasising the importance of food security. This is because grain prices in China have increased and the relations with some exporting countries are not so good now. China is expected to roll out support in order to counter price volatility in both domestic and international markets. The state-run Economic Daily has reported that prices of corn and wheat have soared. However, the price of rice has fallen below the minimum purchase price. The media further added that the situation could get worse as the prices would continue to increase due to continuous rainfall and unusually cold winter in northern China. Economic Daily further highlights the importance of strengthening agricultural subsidies and mobilising the enthusiasm of local governments and farmers in China. It urged the country to stay 'vigilant' to rising global grain prices. Not just the prices of corn and wheat but pork and vegetable prices have also seen a surge, said Even Pay, an agricultural analyst with Trivium China. Also read | Global food prices record 10-year high as wheat prices soar by 40% The rise in prices can be attributed to a number of factors, including tight supply and demand for animal feed. The increasing costs of agricultural products such as fertilisers have also hiked the price of several grains. Meanwhile, figures by United Nations Food and Agriculture Organization (FAO), that came out earlier this month revealed that global food prices have hit the highest level in over a decade after rising by more than 30 per cent in the last year. The FAO Food Price Index surged for the third month in October as there was a 3 per cent increase from the previous month. Vegetable oil prices hit a record high after rising by almost 10 per cent in the same month. Oil prices increased because of rises in the cost of palm, soy, sunflower and rapeseed oils. The price of wheat soared by almost 40 per cent in the last 12 months after major exporters, including Canada, Russia and the US had poor harvests.

Amid concerns of food security, grain prices rise in China

Inflation across a variety of products in the US, which are consumed on a daily basis hit their highest point in more than 30 years, the labor department reported. The consumer price index rose 6.2 per cent from a year ago. This is the most since December 1990.&nbsp;

Inflation has been a matter of concern since the pandemic has hit the globe. The Bureau for Labour Statistics said that rising prices for food, shelter, used cars and trucks and new vehicles were the top contributors.

Based on monthly basis, the CPI increased 0.9 per cent against the 0.6 per cent estimate.&nbsp;

Meat, fish and eggs rose more than any other food related stuff. Also, petrol prices are at seven-year highs. Almost every sector saw some price inflation, except for airfares and alcoholic beverages.

<a href="https://www.wionews.com/world/inflation-pandemic-pushing-people-into-poverty-in-pakistan-404665">Also read |&nbsp;Inflation, pandemic pushing people into poverty in Pakistan</a>

Fuel prices soared 12.3 per cent for the month. Energy prices overall rose 4.8 per cent in October and are up 30 per cent for the one year.

Used vehicle prices again were a big contributor as they rose by 2.5 per cent on the month and 26.4 per cent for the year. New vehicle prices were up 1.4 per cent and 9.8 per cent, respectively.

The labor department revealed that there were also massive shortage of staff which prompted employers to raise wages in several sectors.

<a href="https://www.wionews.com/business-economy/indias-wpi-inflation-rose-in-august-over-costlier-manufactured-goods-412956">Also read |&nbsp;India's WPI inflation rose in August over costlier manufactured goods</a>

Shelter costs increased by 0.5 per cent.

Seema Shah, chief strategist at Principal Global Investors was quoted by CNBC as saying, "Inflation is clearly getting worse before it gets better, while the significant rise in shelter prices is adding to concerning evidence of a broadening in inflation pressures."

Inflation across a variety of products in the US, which are consumed on a daily basis hit their highest point in more than 30 years, the labor department reported.

Inflation across a variety of products in the US, which are consumed on a daily basis hit their highest point in more than 30 years, the labor department reported. The consumer price index rose 6.2 per cent from a year ago. This is the most since December 1990. Inflation has been a matter of concern since the pandemic has hit the globe. The Bureau for Labour Statistics said that rising prices for food, shelter, used cars and trucks and new vehicles were the top contributors. Based on monthly basis, the CPI increased 0.9 per cent against the 0.6 per cent estimate. Meat, fish and eggs rose more than any other food related stuff. Also, petrol prices are at seven-year highs. Almost every sector saw some price inflation, except for airfares and alcoholic beverages. Also read | Inflation, pandemic pushing people into poverty in Pakistan Fuel prices soared 12.3 per cent for the month. Energy prices overall rose 4.8 per cent in October and are up 30 per cent for the one year. Used vehicle prices again were a big contributor as they rose by 2.5 per cent on the month and 26.4 per cent for the year. New vehicle prices were up 1.4 per cent and 9.8 per cent, respectively. The labor department revealed that there were also massive shortage of staff which prompted employers to raise wages in several sectors. Also read | India's WPI inflation rose in August over costlier manufactured goods Shelter costs increased by 0.5 per cent. Seema Shah, chief strategist at Principal Global Investors was quoted by CNBC as saying, "Inflation is clearly getting worse before it gets better, while the significant rise in shelter prices is adding to concerning evidence of a broadening in inflation pressures."

US: Prices surge by 6.2 per cent; biggest inflation rate in three decades

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