I recently read an article that is forecasting several things that are expected to cost more in the new year including a few things that I was not happy to see on the list at all!
It seems like each year my budget gets squeezed a little more by the things that we use everyday. I’m not talking about luxury items here, but rather things like food, gas, water which most of us have no choice in spending our money on.
Here are some of the things that are expected to be more expensive in 2012.
If your grocery bill seemed higher in 2011, you weren’t imagining things. Most retailers have reported that food prices are rising and those increases are being passed along to shoppers. Food costs rose 6% last year and will likely go up at least 2% more in 2012. Increases are likely to affect food eaten at home, rather than restaurants where those costs are easier to absorb when combined with sales of liquor, says Harry Balzer, Chief Industry Analyst for the NPD Group.
Mobile Device Data Plans
Data plans in the past have had a tendency to decline, but as carriers build out 4G services, and move away from unlimited plans, data is set to become more expensive in 2012, according to Ross Rubin, Executive Director of Connected Intelligence at the NPD Group.
Most communities in the United States will face water rate hikes this year, even places that are rich with the natural resource. Water rates in the greater Chicago area will increase by as much as 25% next year, while the parched high desert Denver market is set to rise an additional 5.5%. Like the above-mentioned fees, this increase is mostly a result of cities needing to increase revenue to balance their budgets.
Fuel prices began inching up just before the holidays, and 2012 is looking to be another budget-breaking year at the pump, with prices once again topping $4 per gallon.
Unfortunately for avid online shoppers, the U.S. Postal Service will raise rates by an average of 4.6% next year, while both FedEx and UPS are hiking small package rates by 4.9%. Personal shipping will certainly cost more and it’s anybody’s guess how long retailers can continue the ubiquitous free shipping offers as rates rise.
These are just a few of the items on the list. You can find the rest of the list here.