There have two points to explain the tilde and caret are:-
1. ~version “Approximately equivalent to version”, will update you to all future patch versions, without incrementing the minor version. ~1.2.3 will use releases from 1.2.3 to <1.3.0.
2. ^version “Compatible with version”, will update you to all future minor/patch versions, without incrementing the major version. ^2.3.4 will use releases from 2.3.4 to <3.0.0.