Michael P. Farrell/Albany Times Union
Food prices are expected to rise by 2.5% to 3.5% in 2014, according to the USDA Consumer Price Index.
Seems like everything is so expensive already and guess what. Prices in certain categories will be even higher in 2014.
Jeanette Pavini, consumer savings expert for Coupons.com, gave us her top five categories that are ripe for price hikes next year (and some tips to help you keep costs down).
Most car manufacturers are set for price increases in 2014, according to Zigwheels.com. For instance, Nissan will increase prices by 2% to 4% and BMW will jack up its prices by 7% to 10%, Zigwheels said.
TIP: Consider going with a certified pre-owned model. The savings can be as much as 63%, Pavini said.
With the exception of Europe, airfare to most destinations will go up in 2014. So will hotel rates in cities that have become popular business destinations, especially cities in North America, Asia, and the Middle East.
TIP: The least expensive time to book air travel is on Tuesday afternoon when airlines bring out sales and promotions.
Food prices will rise by 2.5% to 3.5%, according to the USDA Consumer Price Index.
TIP: Build your menu around supermarket circulars. Then find coupons that match what’s on sale in the circular. “Those two things combined can cut the price by 40%,” Pavini said.
The real estate market is back. Home prices are expected to rise between 3% and 5%, according to Clear Capital.
TIP: “Finding the best interest rate on a 30-year loan can end up saving you far more than negotiating the cost of the house,” Pavini said.
The U.S. Postal Service plans to increase its prices for shipping services by about 2.4% in 2014. And starting on Jan. 26, the cost of a first-class stamp will go up three cents to 49 cents.
TIP: Buy Forever stamps. “You can buy them at this year’s price of 46 cents before the cost of stamps goes up,” Pavini said. They remain valid forever. “Stock up!”