Get ready to shell out more money for basic living costs this year.
Food prices are expected to rise by about 4 percent, or $32 a month, if you budget about $200 a week for groceries, according to the U.S. Department of Agriculture’s Center for Nutrition Policy and Promotion. It doesn’t matter if you’re buying cereal or prime rib. An ongoing drought in parts of the country was cited for the higher prices expected for everything from grains and vegetables to milk and beef.
- Online shipping. If you like to shop online, you may see your costs rise. UPS and FedEx are raising their shipping costs by 4.5 percent to 4.9 percent. So if you’re buying merchandise online from independent sellers on eBay and other sites, you’re likely to pay more, dealnews.com says.
- Daily deals. Facials, house cleaning and a host of other services offered at discount prices by sites like Groupon may be more difficult to come by. Reports say that the daily deals market is going through big changes as too many competitors have made it tough for businesses to profit.
- Copper costs. Anything made with copper, from plumbing to beer (yes, even beer, I’m sorry to report, because of the equipment used to brew it) are predicted to cost more this year.