Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

19 cities where rent is falling fast, even as price hikes continue to frustrate consumers

<ul class="summary-list"><li>Trump's plan to transform federal land into housing will be costly, given minimal existing infrastructure, UBS says.</li><li>The firm says his homeowner <a target="_blank" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">tax incentives</a>, meanwhile, could boost buyer competition in a supply-limited market.</li></ul>President-elect Donald Trump's plan to make housing more accessible might do anything but, according to UBS analysts.The firm says the plan's proposal to turn federal land into housing and tax incentives for homeownership could unintentionally fuel higher prices, while his other policy proposals could drive up mortgage rates, they say.Trump's plan to transform federal land into more housing seems particularly challenged, the analysts say. With those lands heavily concentrated in rural areas of the western US, there is little existing infrastructure to build, which will make any development costly and therefore unlikely to actually boost supply.His <a target="_blank" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">tax incentives</a> to encourage homeownership, meanwhile, could increase buyer competition amid an already constrained housing supply, driving up home prices in the process."While details are limited, we believe the federal land initiative could be challenged by a lack of existing infrastructure in these generally rural areas, and tax incentives for homeownership could result in the unintended consequence of driving home prices higher in a supply-constrained market," the analysts said in a Thursday note.Trump and Vice President-elect JD Vance have repeatedly pushed back on the notion that they will negatively impact the housing market. From the perspective of prices, they have said that deporting immigrants would <a target="_blank" rel="" class="" href="https://www.businessinsider.com/jd-vance-said-migrants-to-blame-for-expensive-homes-wrong-2024-8">bring down housing costs</a> by reducing demand for homes.In a <a target="_blank" rel=" nofollow" class="" href="https://singjupost.com/full-transcript-trump-speaks-at-the-economic-club-of-new-york/?singlepage=1">September address</a>, Trump said that Americans shouldn't "ignore the impact" millions of illegal aliens have had on driving up housing costs.Critics — most notably homebuilders — have also said that Trump's immigration plans could <a target="_blank" class="" href="https://www.businessinsider.com/trump-deportations-immigration-homebuilders-remove-construction-workers-spike-costs-2024-11">deplete the home-construction workforce</a>, which would worsen America's ongoing inventory shortage. Vance, meanwhile, has countered that there are ample displaced American workers ready to take those jobs.All the while, homebuyers have faced a steepening housing shortage in recent years. In 2022, the US was short roughly <a target="_blank" href="https://zillow.mediaroom.com/2024-06-18-The-U-S-is-now-short-4-5-million-homes-as-the-housing-deficit-grows">4.5 million homes</a>, and while the number of US families increased by 1.8 million that year, only 1.4 million housing units were built, according to a recent Zillow report.The UBS analysts say that Trump's plans to deregulate more broadly, with the hopes of that trickling down to housing, is likely overly optimistic."Deregulation at the federal level would arguably have little impact on land bottlenecks that permeate municipalities across the country," they wrote.With those policies likely to fail, the analysts see mortgage rates as the key indicator for how housing will fare under the Trump administration.They say Trump's pro-growth initiatives, like corporate tax cuts, relaxed bank regulation and higher deficit spending, plus higher tariffs and a crackdown on immigration, appear likely to lead to yield curve steepening — driving up rates in the process.The higher rates will likely continue the <a target="_blank" class="" href="https://www.businessinsider.com/housing-market-outlook-mortgage-affordable-homes-high-prices-inventory-rates-2024-3">housing lock-in</a> effect, where existing homeowners prefer to remain locked in at their current lower rates. That means buyers will have fewer options among resold homes, the analysts say.UBS adds that builders will likely still be able to execute even at high rates, and will continue to offer mortgage rate buydowns and build smaller footprint homes to attract cash-strapped buyers, the analysts say.Other reports, though, have cautioned that <a target="_blank" href="https://www.piie.com/sites/default/files/2024-05/pb24-1.pdf">Trump's tariff hikes</a> on materials like steel could make construction more expensive, stalling homebuilding. Builders have also warned his plans for <a target="_blank" href="https://www.businessinsider.com/trump-deportations-immigration-homebuilders-remove-construction-workers-spike-costs-2024-11">mass deportation</a> would eliminate a key part of their labor force, driving up construction costs even more.<a target="_blank" href="https://www.businessinsider.com/why-theres-a-housing-shortage-not-enough-homes-high-prices-2022-5">High building costs</a> have been part of the reason why the US has seen such a supply-challenged market in the first place.Much of the outlook for buyers thus remains on the Federal Reserve's easing path, the analysts say."It remains unclear how the Federal Reserve's progress on taming inflation could serve as an offset if any/all of these proposed initiatives come to fruition, but higher mortgage rates would likely have varying impacts on components of the housing value chain," the analysts said.In prepared remarks on Thursday, Fed Chair <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-today-federal-reserve-inflation-jerome-powell-interest-rates-2024-10?_gl=1*ccljzj*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTY3NzQzNS40MTEuMS4xNzMxNjc4MjQzLjYwLjAuMA..">Jerome Powell</a> said the US is in no hurry to cut rates, signaling that mortgage rates could stay higher for longer.

Trump's plan to build more homes on federal land could push prices higher, UBS says

<ul class="summary-list"><li>Two hurricanes hit Florida in recent weeks, exacerbating a home insurance crisis in the state.</li><li>Insurance experts said the back-to-back hurricanes could signal rising insurance rates nationwide.</li></ul>Two back-to-back hurricanes in Florida in recent weeks will likely raise <a target="_blank" href="https://www.businessinsider.com/florida-real-estate-worth-it-home-prices-insurance-hurricane-helene-2024-10">home insurance rates</a> even higher in a state that is already grappling with prices nearly <a target="_blank" href="https://www.cnn.com/2023/06/01/business/florida-homeowner-insurance-rates/index.html">four times</a> the national average, insurance experts told Business Insider."Florida represents an <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-four-storm-real-estate-market-insurance-damages-2024-10">outsize amount of risk</a> compared to other areas of the world," Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents, told BI. "And we pay commensurately for it."But it's not just Florida.The compounding financial crises of <a target="_blank" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">Hurricane Helene</a> and <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-landfall-florida-housing-market-insurance-fema-2024-10">Hurricane Milton</a> could also point to looming hikes in insurance rates nationwide, the home insurance experts said. They pointed to the recent Florida storms as examples of the increasingly severe and frequent climate catastrophes wreaking havoc on the global insurance market.<h2 id="25940b76-9ef6-4385-94a3-eb8903a79169">Florida's battered home insurance market</h2>Home insurance rates are <a target="_blank" href="https://www.businessinsider.com/why-its-expensive-to-own-a-home-mortgage-insurance-interest2024-4">up across the board</a> in recent years due to a combination of natural disasters and inflation, according to a <a target="_blank" class="" href="https://insurify.com/homeowners-insurance/report/home-insurance-price-projections/">recent report</a> from insurance comparison shopping site Insurify. Between 2021 and 2023, overall home insurance costs rose nearly 20%, the report found.And, for mortgaged single-family residences specifically, the average monthly property insurance payment has increased 52% nationally since 2019, according to a 2024 <a target="_blank" class="" href="https://static.icemortgagetechnology.com/pdf/ICE_Mortgage-Monitor-Report-October-2024.pdf">mortgage report</a> from financial services company Intercontinental Exchange.That number is even higher in regions more at risk of environmental disasters. California has seen <a target="_blank" href="https://www.businessinsider.com/homeowners-california-florida-insurance-issues-natural-disasters-wildfires-hurricanes-2023-10">several top home insurance agencies</a> pull out or limit their business in the state amid a growing risk of destructive wildfires, while tornado-prone states such as Illinois and Arkansas have seen an uptick in premiums as cyclones become more frequent, <a target="_blank" class="" href="https://www.cbsnews.com/news/storms-homeowners-insurance-oklahoma-texas-tornado/">according to CBS News</a>."Certainly, areas that are chronically hit by storms, you're seeing either rates increase or insurers pull out completely," Jeffrey Schlegelmilch, a research scholar and director at Columbia Climate School's National Center for Disaster Preparedness, told Business Insider.But nowhere in the country is the <a target="_blank" href="https://www.businessinsider.com/florida-home-insurance-prices-premium-effect-from-hurricanes-2024-9">home insurance crisis</a> more acute than in Florida. The state has, in recent years, been battered by a wave of costly <a target="_blank" href="https://www.businessinsider.com/hurricane-ian-photos-videos-destruction-in-florida-2022-9">hurricanes</a>, seen an <a target="_blank" class="" href="https://www.businessinsider.com/why-are-people-moving-florida-home-prices-cost-of-living-2023-12#:~:text=Florida's%20population%20jumped%20by%201.9,growing%20state%20in%20the%20country.">influx of new residents</a>, and dealt with <a target="_blank" href="https://www.renaissanceins.com/blog/florida-personal-lines-crisis/">fraud</a> over the state's assignment-of-benefits loophole, said Oscar Miniet, regional executive vice president, Southeast for Renaissance, a nationwide network of independent insurance agencies.Miniet said the number of insurers willing to write policies in parts of the state most exposed to hurricanes is shrinking, primarily because the potential risk outweighs the possible financial reward. Meanwhile, those that have stuck around, he added, have implemented extremely tight underwriting practices, which leads to homeowners paying far more in premiums, especially in at-risk areas.Florida cities like Deltona, Jacksonville, and Cape Coral saw the average property insurance payment for mortgaged single-family residences skyrocket 90%, 86%, and 85%, respectively, since 2019, according to an analysis by financial services company Intercontinental Exchange.Tampa — which sustained severe <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-flooding-damage-photos-2024-10#winds-of-up-to-120-mph-ripped-through-the-state-shredding-the-roof-of-tropicana-field-home-of-the-tampa-bay-rays-baseball-team-8">wind damage when Milton</a> landed near Sarasota on Wednesday evening and a <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">deadly storm surge when Helene</a> touched down last month — has seen insurance payments go up 71% since 2019, Intercontinental Exchange found.And Helene and Milton are likely to make matters even worse for Florida homeowners, the insurance experts said.The majority of Helene's damage in the state was flooding-related, which isn't included in most home insurance policies. But Helene also caused wind damage and <a target="_blank" class="" href="https://www.businessinsider.com/florida-homeowner-milton-tearing-through-neighborhood-cant-sleep-2024-10">Hurricane Milton's gusts</a> were fierce enough to tear the roof off Tampa's Tropicana Field and spawn several tornadoes that tore through Central Florida. Unlike flooding, wind damage is typically covered by home insurance."That is clearly going to have an impact on premiums in the state, said Shahid Hamid, a finance professor at Florida International University and director of the school's Hurricane Research Center's Laboratory for Insurance, Financial and Economic Research. "They're going to go up quite significantly."<h2 id="66cc80ec-e36b-4d1c-9df6-0fbbad2a8fb5">Increased home insurance prices nationwide</h2>While Floridians will bear the brunt of Helene and Milton's insurance-related pains, homeowners across the country could also soon feel the pain in their pocketbook thanks to the recent storms and other climate disasters like them.Milton and Helene are one-time events, but storms like them can end up <a target="_blank" href="https://www.businessinsider.com/soaring-home-car-insurance-rates-hurting-americans-finances-us-economy-2023-11">impacting the larger insurance industry</a>, said Jeremy Porter, the head of climate implications research at climate risk evaluation company First Street."When insurance costs get increased, they get increased not only in the places where we're seeing the exposure but they get increased across the industry," he told Business Insider.Large insurance companies such as Allstate or State Farm typically take major losses after big storms and, as a result, need to find ways to make up for those loss payouts, Porter said."So you're going to end up seeing people in Kentucky and Idaho and other places that just aren't anywhere near this event that may see a spike, an increase in their insurance costs, just due to the company's overhead and the additional payouts that they're having to make given climate risk in other areas," Porter said.But the primary reason homeowners around the country could see their rates rise post-hurricane season is thanks to the global reinsurance market, three insurance experts said.The reinsurance market, with hubs in <a target="_blank" class="" href="https://www.businessinsider.com/lloyds-london-firms-face-billions-claims-baltimore-bridge-collapse-2024-3">London</a> and <a target="_blank" class="" href="https://www.abir.bm/why-bermuda/">Bermuda</a>, is where insurance companies can offload some of their risk to a reinsurance company — a kind of insurance company for insurance companies.An uptick in reinsurance rates in recent years has been a driving force behind climbing insurance rates nationwide, said Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents.Reinsurance rates are determined by worldwide losses, and when prices increase, insurance companies pass financial responsibility to customers who end up paying higher premiums, Hamid said.Those increases are, in part, because of climate change. The global reinsurance market has to assess risk against catastrophic events around the globe, from hurricanes in Florida to tsunamis in Japan, Ulrich said.But as catastrophic climate events become more common worldwide, homeowners everywhere are bearing the risk."There used to be five storms a year. Now there are 30 storms a year. There used to be one strong one and nine weak ones. Now there are nine strong ones and one weak one," said Oscar Seikaly, CEO of NSI Insurance Group, one of the largest privately owned insurance firms in Florida. "So the <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-helene-economy-gdp-damage-cost-rebuilding-florida-climate-2024-10">frequency and severity</a> have been the factors that set the reinsurance industry off guard and put them in panic mode a bit."With Hurricanes Helen and Milton shaping up to be massive loss events, reinsurers could be on the hook for paying out billions of dollars of claims, which would, in turn, shrink the reinsurance industry's capacity to supply capital when it comes time to renew contracts next year, thus driving up premiums in the primary market, Yanjun (Penny) Liao, an economist and fellow at nonprofit research institute Resources for the Future, said."Because primary insurers rely on reinsurance everywhere, this could happen even in places that are not hit," Liao added.

Back-to-back Florida hurricanes signal trouble for home insurance prices nationwide

Reliance Jio and Airtel price hike – new plans and how you can save money

Electric scooters get a price hike of up to ₹16,000 as FAME subsidy ends

<keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword>, one of the leading <keyword id="22160307" type="General" weightage="20" keywordseo="two-wheeler-manufacturers" source="keywords">two-wheeler manufacturers</keyword> in the country, has announced a price increase for its <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and <keyword id="22160306" type="General" weightage="20" keywordseo="scooters" source="keywords">scooters</keyword> starting from July 1, 2024. This information was conveyed by the company in a filing to the exchange on Monday. "Hero <keyword id="20291118" type="General" weightage="20" keywordseo="motocorp" source="keywords">MotoCorp</keyword> will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1, 2024," said the company. The price increase will be up to Rs 1,500 on various models, although the exact amount will differ depending on the specific model and market. "The price revision will be up to Rs. 1,500 and the exact quantum of increase will vary by specific model and market," the company clarified. This means that while some models might see a smaller increase, others could reach the maximum threshold of Rs 1,500. The company has attributed this price adjustment to the rising input costs associated with manufacturing. The company stated that the increase was necessary to mitigate some of these higher costs. "The revision has been necessitated to partially offset the impact of higher input costs," the company stated. The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry. In May 2024 Hero MotoCorp, sold 498,123 units, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments. Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023. However, the company registered growth in export sales. Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

<ul class="summary-list"><li>The California Fast Food Workers Union is calling for the state's minimum wage to rise to $20.70.</li><li>The union says the increase will help workers "keep up with inflation."</li></ul>Fresh off the heels of a major wage hike in April, California fast food workers are calling for a new one "to keep up with <a target="_blank" class="" href="https://www.businessinsider.com/cost-of-living-in-california-cities-prices-housing-medical-energy-2023-8">the rising cost of living</a>."The California Fast Food Workers Union presented its demand for a new wage of $20.70 (up from $20) at the first-ever meeting of the newly formed Fast Food Council, <a target="_blank" href="https://ktla.com/news/california/california-fast-food-workers-want-another-minimum-wage-increase/">KTLA News</a> reported. Annual cost-of-living adjustments are a common feature of labor contracts, and the new wage would take effect on January 1, 2025."It's always been about more than $20/hr, and we're just getting started," a CAFFWU memo shared with Business Insider said.But the impact of the last (and more significant) raise — from $16 to $20 on April 1 — is still rippling through California's foodservice industry, with business leaders and labor organizers offering divergent narratives.McDonald's CEO Chris Kempczinski told CNBC on Thursday <a target="_blank" href="https://www.businessinsider.com/mcdonalds-fast-food-sales-suffer-most-in-california-wage-hike-2024-7">sales have fallen off more in California</a> than elsewhere in the US after the chain raised prices to pay for the wage increase. McDonald's previously lobbied against the law.At Chipotle, CEO Brian Niccol said the law drove <a target="_blank" href="https://www.businessinsider.com/chipotle-california-minimum-wage-pushed-menu-prices-2024-4">a 20% increase in earnings</a> for its restaurant staff and that it raised menu prices by 6% to 7% in the state to offset that.McDonald's and Chipotle didn't immediately respond to requests for comment from Business Insider.Other <a target="_blank" href="https://www.businessinsider.com/california-fast-food-restaurants-lay-off-workers-minimum-wage-hike-2024-3">fast-food chains have laid off workers</a>, in some cases by closing restaurants altogether, citing the new rules.Data from the US Bureau of Labor Statistics is not likely to satisfy either side: Before adjusting for seasonality, the state added more than 5,000 new fast food jobs between April and June, but the seasonally adjusted figure is a 3,000-job decline. The numbers are effectively flat over the past year.Still, some fast food workers have praised the wage increase: "It's been really good because I can now put more food on the table and in my fridge and pay my rent on time, which was always a challenge," Wendy's employee Romualda Alcazar Cruz told <a target="_blank" href="https://ktla.com/news/california/california-fast-food-workers-want-another-minimum-wage-increase/">KXTL</a> in Spanish.The union also said in the memo that it is seeking more stable scheduling as well as investigations into "abuses" including unsafe working conditions, harassment, discrimination, and wage theft.The Fast Food Council next meets in September.If you are a fast food worker in California who wants to share your perspective, please <a target="_blank" href="mailto:dreuter@businessinsider.com">contact Dominick via email</a> or text/call/Signal at 646.768.4750. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.

Fast food giants like McDonald's and Chipotle may be forced to hike prices in California again.

<ul class="summary-list"><li>Fast-food prices have risen so much they've hit a "tipping point," one analyst said.</li><li>Restaurants are having to reset their menus with value deals, Chris O'Cull of Stifel said.</li></ul>Prices at fast-food chains have been skyrocketing since the start of the pandemic — and one analyst thinks they may now have reached a "tipping point."<a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-starbucks-kfc-us-sales-diners-cut-back-prices-expensive-2024-8">McDonald's, Starbucks, and KFC</a> all recently reported decreases in US same-store sales as rising prices kept some customers away.In response, fast-food chains have been turning to combo deals and value menus. <a target="_blank" rel="" class="" href="https://www.businessinsider.com/why-mcdonalds-5-dollar-meal-deal-pulling-in-customers-inflation-2024-7">McDonald's</a>, <a target="_blank" rel="" class="" href="https://www.businessinsider.com/burger-king-launches-5-dollar-value-meal-before-mcdonalds-months-2024-5">Burger King</a>, <a target="_blank" class="" href="https://www.facebook.com/jackinthebox/videos/485945577257950/">Jack in the Box</a>, and <a target="_blank" rel=" nofollow" class="" href="https://www.kfc.com/newsroom/kfc-introduces-new-taste-of-kfc-deals">KFC</a> have all launched $5 combo deals — and even <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-bundling-breakfast-combo-deals-sandwich-croissant-tea-coffee-meal-2024-6">Starbucks</a> experimented with bundling."I think pricing has probably hit a tipping point now where a lot of these restaurants are having to reset their menus with these value menus and value deals," Stifel analyst Chris O'Cull told Business Insider.<h2 id="68de75e7-4102-4a02-b732-66162a1e6127">Too expensive</h2>Before the pandemic, limited-service restaurants in the US generally put their prices up by less than 3.5% a year, <a target="_blank" class="" href="https://data.bls.gov/dataViewer/view/timeseries/CUUR0000SEFV02">consumer price index</a> data shows. All that changed in 2020. The cost of labor and commodities soared — and chains raised their prices in response. In the year to April 2023, prices at limited-service restaurants went up by 8.2%.Those rises are cooling, but remain far above pre-pandemic levels — and are coming back to bite fast-food chains."Consumers are kind of pushing back on spending and are deciding to find cheaper ways to eat," O'Cull said. Low-income diners in particular are <a target="_blank" class="" href="https://www.businessinsider.com/fast-food-expensive-americans-cook-at-home-visit-independent-restaurants-2024-5">buying more groceries</a>, turning to diners or casual-dining chains to get a sit-down experience for just a few dollars more — or they're still getting their fast-food burgers and fries, but are being more prudent about what they buy."Quick service posted its fifth straight quarter of decelerating comp trends, marking a change from prior times of consumer choppiness during which quick service tended to be the most resilient space," William Blair analyst Sharon Zackfia said in a note on Thursday.<div type="image" title="McDonald's fast food restaurant in Manhattan, New York, United States of America, on July 6th, 2024." height="2001" width="3000" msid="112630663" hostid="261" sizebytes="600222"></div>During a slowdown, lower-end consumers cut down on fast food, but this is typically more than offset by the influx of middle- and higher-income consumers, Brian Yarbrough, an Edward Jones analyst, told BI.But in this instance, fast-food chains have raised prices "so much" that it's shrunk the gap between fast-food and fast-casual prices, meaning more low-earners are trading out of the sector than high-earners are trading in, he said.<h2 id="cdef5103-6ac0-4864-b952-122ac26b7600">Traffic boost </h2>As customers turn their noses up at high prices, restaurants have resorted to value meals and combo bundles to draw in new diners. Andy Barish, an analyst at Jefferies, said this represented a return to a pre-pandemic promotional approach.Executives at McDonald's and Burger King have said their $5 deals have proved popular, especially among lower-income consumers.But restaurants have to ensure the deals drive enough traffic to offset the lower prices, Yarbrough said.Bosses also hope that once value menus get customers through the door, they'll end up bulking up their orders with extra items, too. Both McDonald's and Burger King said the average order including their combo meals came to more than $10. Jack in the Box said that its Munchies Under $4 deal didn't drive as much traffic as expected, but did lead to higher average order sizes.O'Cull of Stifel said he thought the value deals had been a "positive" for both fast-food chains and their franchisees: "For the time being, I think they'll probably stick with this."

Fast-food price hikes reach 'tipping point' as chains try to reset their menus with value deals and combos

Mobile phone users might have to spend notably more for their recharge packs after the general election, as reports indicate that telecom firms are gearing up for a fourth round of <keyword id="891186" type="General" weightage="20" keywordseo="tariff-hikes" source="Orion">tariff hikes</keyword> in recent times. According to a report by brokerage Axis Capital, a meaningful hike of approximately 25% by operators is anticipated soon. This surge is attributed to a stable competitive environment, the necessity to bolster profitability post heavy <keyword id="21245910" type="General" weightage="20" keywordseo="5G-investments" source="keywords">5G investments</keyword>, and ongoing government support. Despite the apparent magnitude of the increase, the report suggests it should be manageable for both urban and rural users. Urban households may witness a rise in telecom expenditure from 3.2% to 3.6% of total expenditure, while for rural subscribers, spending could escalate from 5.2% to 5.9%. Analysts predict that the consumers are likely to remain loyal and pay up, especially if they continue to enjoy high-speed connectivity — a vital need of these modern times. For <keyword id="20055601" type="General" weightage="20" keywordseo="telecom-operators" source="keywords">telecom operators</keyword>, the projected roughly 25% hike in headline rates is expected to correspond to a 16% growth in the average revenue per user (ARPU), as estimated by Axis Capital. While <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> reported an ARPU of Rs 181.7 for the quarter ending March, Bharti Airtel and <keyword id="19899016" type="General" weightage="20" keywordseo="vodafone-idea" source="keywords">Vodafone Idea</keyword> (Vi) are yet to disclose their March quarter numbers. However, their figures stood at Rs 208 and Rs 145 respectively for the October-December 2023 period. Peeyush Vaish, TMT industry leader at Deloitte, South Asia, anticipates a 10-15% increase in ARPUs, adding approximately Rs 100 per subscriber by the end of this calendar year. This hike is expected to be driven by price increases for 4G/5G bundled packs and the phasing out of low-value packs. Analysts foresee Bharti Airtel and Jio emerging as the primary beneficiaries of the <keyword id="21656632" type="General" weightage="20" keywordseo="wireless-pack-price-hike" source="keywords">wireless pack price hike</keyword>. While Vi is also expected to boost its ARPU by fortifying its network and minimising subscriber churn, the overall revenue impact may still be limited compared to its competitors. At the end of Q4 FY24, Jio’s total assets stood at Rs 4,87,405 crore, while its net profit from January to March climbed to Rs 5,337 crore from Rs 4,716 crore a year ago. On the other hand, Bharti Airtel’s consolidated Q4 revenue came in at Rs 37,599 crore, with its net profit of Rs 2,072 crore dropping 31.1% compared to a year ago. (With inputs from The Economic Times)

Mobile recharge packs to get more expensive as telcos gear up for another round of tariff hikes: Report

India's retail inflation is projected to surge to 6.15% in October, exceeding the Reserve Bank of India's (RBI) tolerance threshold of 6%, according to a new report by Union Bank of India. The spike is attributed to persistent <keyword id="21013592" type="General" weightage="20" keywordseo="food-price-pressures" source="keywords">food price pressures</keyword> and the waning of favorable base effects from the previous year. Earlier this month, RBI governor Shaktikanta Das also echoed similar sentiments and noted that the inflation print for October 2024 could stay well above 5.5%. This is why, as Das highlighted, cutting interest rates as early as December would be very early and premature The <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) data for October, which will be released at 4 pm on Tuesday, as opposed to the previous practice of releasing this data at 5:30 pm on the 12th of every month, follows September's inflation reading of 5.49%, up from 3.65% in August 2024. The last time inflation breached the RBI's upper limit was in August 2023. Despite the RBI's anticipation of an October inflation "hump," the Union Bank report suggests that the magnitude of the increase might raise concerns, particularly as November's figures are also tracking at elevated levels. The bank maintains its forecast of unchanged interest rates in December's monetary policy meeting, with a modest 50 basis points rate cut cycle predicted to begin in February 2025. Food inflation remains a key driver of price pressures, with vegetables and edible oils leading the recent surge. In September 2024, India's YoY food inflation rate hit 9.24%, up from 5.66% in the month prior. However, the report projects some easing of food inflation in the January-March quarter, citing typical winter price moderation and improving prospects for rabi crops. Despite this, potential risks from food supply disruptions, imported edible oil prices, and the impact of potential trade tariff hikes will exist. The RBI, which aims to maintain retail inflation at 4%, has held the repo rate steady at 6.5% for the tenth consecutive time in its last meeting as part of its inflation containment strategy. A recent SBI report also noted that expecting rate cuts in this quarter would be immature, and easing was possible only during the first half of 2025. "Given the current estimates of FY25 real GDP growth at 7.2% and CPI at 4.50%, the RBI would quite possibly keep policy rates stable over the coming quarter at least. Emerging trends in the growth outlook would possibly determine the timing and extent of any policy easing. With near-term CPI numbers likely to stay elevated, it’s premature to consider expectations of any easing in the December review. "However, high-frequency data do validate a softness in growth data on an incremental basis. Given the anticipated aligning of CPI closer to the target over H2, a shallow easing, if any can be a reasonable possibility over H1 of CY 25", it added.

Retail inflation expected to breach 6% mark in October, says UBI Report

<ul class="summary-list"><li>Tesla raised Model S and Model X prices by $2,000 after a year of price cuts.</li><li>The price hike follows a 4.8% drop in second-quarter sales compared to last year.</li></ul>After over a year of dropping prices of various models to boost sales, Tesla appears to be changing tack.The EV giant has increased Model S and Model X prices by $2,000 — essentially undoing the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-slashes-prices-suv-cars-self-driving-software-before-earnings-2024-4#:~:text=Tesla%20cut%20car%20prices%20in,%2C%20layoffs%2C%20and%20Cybertruck%20recalls.">price cuts of the same amount</a> in April.The Tesla <a target="_blank" class="" href="https://www.tesla.com/models/design#overview">Model S</a> now starts at $74,990, and the <a target="_blank" class="" href="https://www.tesla.com/modelx/design">Model X</a> retails for $79,990. Their Plaid variants are now priced at $89,990 for Model S and $94,990 for Model X.The price increase for Tesla's most expensive vehicles, aside from the Cybertruck, comes as the EV maker battles cooling demand, with Q2 sales down 4.8 % year over year.Tesla's prices fluctuate frequently, and this isn't the first price hike this year in its lineup. On April 1, the price of Tesla's Model Y was hiked by $1,000, only for the company to slash its price — along with all other models sans the Cybertruck — by $2,000 later that month.At the time, CEO Elon Musk <a target="_blank" class="" href="https://x.com/elonmusk/status/1782067256194633756?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1782067256194633756%7Ctwgr%5Eeeeb61d963ec76d8202bd4c1080be0f0e1904866%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.teslarati.com%2Felon-musk-tesla-pricing%2F">wrote on</a> X that "prices must change frequently in order to match production with demand."But broadly speaking, this most recent price uptick indicates the company may be more ready to break from <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">lowering prices</a> — and sacrificing some gross margin — to maintain ground in the EV competition. The company spent the last year cutting prices by roughly 25%, Business Insider previously reported.While more people continue to buy electric vehicles, the growth in sales has slowed and competition has been fierce. Chinese automaker BYD briefly <a target="_blank" rel="" class="" href="https://www.businessinsider.com/tesla-q4-sales-less-than-china-byd-2024-1">surpassed Tesla</a> in January as the world's top EV seller.Despite Tesla's <a target="_blank" href="https://www.businessinsider.com/tesla-revenue#:~:text=Tesla's%20gross%20profit%20margin%20also,into%20the%20automaker's%20bottom%20line.">rocky start to the year</a>, the company seems to have <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-reaction-q2-deliveries-china-robotaxi-dan-ives-2024-7?_gl=1*z3lhq9*_ga*MjEyNTYxNzAyMC4xNzIwNzg5NjY4*_ga_E21CV80ZCZ*MTcyMTY3ODQ0MC4zOC4xLjE3MjE2Nzg3NjcuNjAuMC4w">turned a corner.</a> While deliveries were still down in the second quarter, they weren't as bad as Wall Street feared."In a nutshell, the worst is in the rearview mirror for Tesla as we believe the EV demand story is starting to return," Wedbush analyst Dan Ives wrote in a note to clients earlier this month.With some encouraging results, Tesla looks ready to test the waters of demand going into the summer — and eke out some additional profit per vehicle.

Tesla isn't done raising prices

<ul class="summary-list"><li>The cheapest <keyword id="19906969" type="General" weightage="20" keywordseo="Cybertruck" source="keywords">Cybertruck</keyword> available right now is $100,000.</li><li><keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords">Tesla</keyword> quietly hiked the <keyword id="19959766" type="General" weightage="20" keywordseo="price" source="keywords">price</keyword> of the all-wheel drive Cybertruck and removed the option to order a cheaper version.</li></ul>When <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> first unveiled <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla's</a> Cybertruck in 2019, he touted the futuristic pickup <a target="_blank" class="" href="https://www.businessinsider.com/ford-responds-to-tesla-new-cybertruck-elon-musk-2019-11">as a competitor to the Ford F-150</a> with a starting price of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-cybertruck-specs-cost-features-everything-we-know-so-far-2023-11">$39,900</a>. Nearly five years later, that dream looks further away than ever. Right now, the lowest-priced Cybertruck costs a cool $100,000. Tesla has quietly hiked the price of the all-wheel drive version of the Cybertruck from around $80,000 to just under $100,000 and removed the option to pre-order the $61,000 rear-wheel version for 2025, according to Internet Archive screenshots. That means if you want to buy the truck, your only options are the <a target="_blank" class="" href="https://www.tesla.com/cybertruck/design#overview">$99,990 all-wheel drive Cybertruck or the $119,990 Cyberbeast.</a> It's unclear what this means for the planned <keyword id="22852546" type="General" weightage="20" keywordseo="cheaper-versions" source="keywords">cheaper versions</keyword> of the Cybertruck, though Cybertruck lead engineer Wes Morrill appeared to confirm <a target="_blank" class="" href="https://x.com/wmorrill3/status/1822368693105709143">in a post on X</a> that they have not been canceled altogether. The Cybertruck's price and relative scarcity have seen it become something of a status symbol since its launch last year, with <a target="_blank" class="" href="https://www.businessinsider.com/tesla-cybertruck-new-status-car-celebrities-billionaires-2024-2">celebrities like Kim Kardashian</a> spotted driving the pickup. Musk said in 2019 the Cybertruck would start at $39,900, with the most premium version costing around $70,000. But the Cybertruck's actual price tag left some fans <a target="_blank" class="" href="https://www.businessinsider.com/tesla-fans-slam-cybertruck-disappointing-launch-and-unexpected-price-hike-2023-12">bitterly disappointed</a>. Tesla had said that cheaper versions of the vehicle were coming in 2025, but the company has faced <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-says-cybertruck-faces-enormous-production-challenges-tesla-2023-10">huge challenges in scaling up production</a> thanks to its unique design. The new uncertainty is the latest bump in the road for the Cybertruck, which has already <a target="_blank" class="" href="https://www.businessinsider.com/tesla-recalls-cybertrucks-due-to-wiper-issue-2024-6">faced multiple recalls</a>, including over fears the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-recalls-cybertrucks-accelerator-fault-pad-pedal-electric-vehicle-truck-2024-4">accelerator pedal may jam</a>. One upside for would-be Cybertruck owners is that Tesla is now advertising deliveries of the all-wheel drive and Cyberbeast versions for this year, as opposed to 2025, suggesting the company is finally making headway in ramping up production. Tesla did not respond to a request for comment from Business Insider, sent outside normal working hours. Correction: This article was updated to clarify that only the rear-wheel drive version of the Cybertruck has been removed as an option to order on the Tesla website.

You Searched For "price hikes" and got 12 results

19 cities where rent is falling fast, even as price hikes continue to frustrate consumers

James Faris

Trump's plan to build more homes on federal land could push prices higher, UBS says

Kelly Cloonan

Back-to-back Florida hurricanes signal trouble for home insurance prices nationwide

Grace Eliza Goodwin,Erin Snod…

Reliance Jio and Airtel price hike – new plans and how you can save money

Sourabh Jain

Electric scooters get a price hike of up to ₹16,000 as FAME subsidy ends

Sourabh Jain

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

ANI

Fast food giants like McDonald's and Chipotle may be forced to hike prices in California again.

Dominick Reuter

Fast-food price hikes reach 'tipping point' as chains try to reset their menus with value deals and combos

Grace Dean

Mobile recharge packs to get more expensive as telcos gear up for another round of tariff hikes: Report

Kunal Kambli

Retail inflation expected to breach 6% mark in October, says UBI Report

BI India Bureau

Tesla isn't done raising prices

Jaures Yip

Elon Musk initially said the Cybertruck would cost from $39,900. Now, you can't buy it for much less than $100,000.

Tom Carter

Popular Keywords

Buying Guides