I am using event - checkout_cart_save_after to update cart item's price. But Item price is not getting updated.
Below is the code.
foreach ($observer->getCart()->getQuote()->getAllVisibleItems() as $item) {
if ($item->getParentItem()) {
$item = $item->getParentItem();
}
$item_price = $item->getProduct()->getFinalPrice();
$price_for_tier = $item_price + 50;
$item->setCustomPrice($price_for_tier);
$item->setOriginalCustomPrice($price_for_tier);
$item->getProduct()->setIsSuperMode(true);
}