ARLINGTON, Va.—Having lingered near record highs for months, egg prices will fall dramatically this year provided the United States does not see a rebound in outbreaks of bird flu, the U.S. Department of Agriculture (USDA) said on Thursday. The price drop would be a welcome relief to shoppers who have paid much more for eggs…
Egg Prices Will Fall Nearly 30 Percent This Year, US Farm Agency Says
US Import Prices Fall in January; Annual Increase Smallest in Two Years
WASHINGTON—U.S. import prices dropped for a seventh straight month in January amid declining costs for energy products, leading to the smallest annual increase in imported inflation in two years. The report from the Labor Department on Friday, however, did little to assuage financial market fears the Federal Reserve could maintain its interest hiking campaign through…
Kraft Heinz to Abandon Further Price Hikes as Shoppers Stretched Thin
Kraft Heinz said on Wednesday it would hit pause on further price hikes for its quick-fix meals and condiments, as consumers turn increasingly sensitive to persistently high inflation. The packaged food giant also forecast 2023 profit below Wall Street estimates, weighed down by more promotions and higher costs of commodities including dairy, soybean, oils and…
Tesla Changes US Prices for 4th Time in 2 Months
Tesla has changed prices for one version of each of its Model 3 sedan and Model Y crossover, the fourth price adjustment by the electric vehicle maker since the start of the year. Tesla increased the price of its Model Y performance crossover by $1,000 to $58,990, its website showed. It cut the price of…
Clorox Exec Says No More Price Hikes, Layoffs Coming as It Lifts Annual Profit
Clorox Co. Chief Financial Officer Kevin Jacobsen said on Thursday that the bleach maker has no more price hikes planned through June, and is readying for more layoffs as it looks to recover margins following sky-high inflation. The Pine-Sol manufacturer on Thursday raised its forecast for annual adjusted profit after reporting a surprise rise in…
After Tesla Price Cut, Ford Follows Suit With Mustang Mach-E
DETROIT—Ford is cutting prices on its Mustang Mach-E electric SUV by as much as $6,000 just weeks after market leader Tesla took similar steps. The Detroit automaker is increasing production of the Mach-E this year and said it is taking advantage of streamlined costs to reduce prices across the board, it said Monday. The cut…
US Home Sales Drop to 12-year Low; Price Growth Cools
WASHINGTON—U.S. existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious hope that the embattled housing market could be close to finding a floor. The report from the National Association of Realtors on Friday also showed the median house price increasing at the slowest pace since early in the…
Tesla Turns Up Heat on Rivals With Global Price Cuts
Tesla Inc. has slashed prices globally on its electric vehicles by as much as 20 percent, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker’s strategy over the last two years when new vehicle orders exceeded supply. It comes after…
Report: Oil Price Cap Takes Small Slice of Russia’s Revenue
FRANKFURT, Germany—A price cap and European Union embargo on most Russian oil have cut into Moscow’s revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its action in Ukraine because the $60-per-barrel cap was “too lenient,” researchers said Wednesday. The combination of the cap by the Group of Seven major…
Tesla Used Car Price Bubble Pops, Weighs on New Car Demand
SAN FRANCISCO—Tesla buyers who waited months for their new car have had an unusual choice for much of the past two years: keep the new electric vehicle, or sell it at a profit to someone with less patience. But the days of the Tesla flip are numbered—a potential threat to new car prices that are…
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