Five Consumer Products With Rising Prices
Here are five common products, services, and costs that are expected to see a rise in price this year.
1. Nuts: With a poor recent crop and rising demand, this popular snack food is getting more costly. Wholesale nut and seed prices rose 9 percent in 2013, and the increase doesn’t appear to be slowing down.
2. Mail: The cost of a stamp rose 3 cents in January—it now costs $0.49 to send a letter. Part of the increase is to help the postal service recoup losses from recent years.
3. Rent: Research suggests rent will rise 3.1 percent in 2014, with the Bay Area and the Pacific Northwest seeing the largest increases. In 2013 the average rental was $1,107.
4. Chocolate: Demand is high (of course), and bad-weather in cocoa-producing countries has led to an increase in price. Cocoa production in the 2013-14 crop year is expected to be even less than it was the previous year, when it fell 3.7 percent.
5. Taxes: You might owe a little more in taxes in 2014. Many tax breaks and credits expired at the end of the year, and tax penalties from the Affordable Care Act will also take effect.