The new year brings a lot of new things for many people, including new goals and new opportunities. Unfortunately, the new year also brings higher prices for a number of items that we might need to buy. The amount that prices increase is dependent on many different factors that vary from industry to industry, so some items will see bigger increases than others this year. Here are some of the things that you can expect to pay more for in 2014.
Food Costs
According to the USDA Consumer Price Index, food costs are expected to increase 2.5 percent to 3.5 percent, affecting the prices of everything from groceries to fast food meals to entertainment venue snacks. Fortunately, there are a number of ways to get around increases in the prices of certain foods. It is important to remember that it is always cheaper to eat at home than to dine out. You can tailor your weekly menus to coupons and store circulars to save a significant amount of money on the food that you buy.
Airfare
Airlines have been doing all that they can to squeeze more people into each plane and make each flight as profitable as possible. In 2014, many airlines are planning on increasing the price of airfare to most destinations, with the exception of traveling to Europe. You can also expect to see higher fees for items like checked baggage, extra legroom, and in-flight meals.
New Cars
The new car category is expected to see price increases from nearly every manufacturer this year. According to Zigwheels.com, BMW is planning on increasing the prices for its new cars by 7 percent to 10 percent, while Nissan will raise the prices of its cars by 2 percent to 4 percent. Many car buyers are opting for cheaper options, such as certified pre-owned models, to make the price and car payments more affordable on their budget.
Shipping Costs
You can also expect the price for shipping items to your home or to other people to increase in 2014. The U.S. Postal Service has already announced that the price of a first class stamp will rise 3 cents to 49 cents and that the costs of their shipping services will increase by nearly 2.4 percent. It would not be unlikely for the other large shipping providers to follow suit. To combat the significant costs of shipping items purchased online, you should take advantage of the free shipping offers provided by many internet retailers.